What is the ruling on deposits in Islamic banks?
Bank deposits are divided into three types: current, fixed-term, and savings. Islamic banks deal with all these deposits on the basis of Sharia compliant Mudarabah (profit-sharing), and not on the basis of an interest-bearing loan, especially deposits from which the depositor receives a return. Therefore, there is no objection to dealing with them on this basis.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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