Are bank interests permissible if the intention is investment, and what is the ruling on interests acquired previously if they were unlawful, and are Islamic banks permissible, and how do they operate?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
Usurious bank profits are forbidden, and one must dispose of them by spending them on the welfare of Muslims. It is permissible to deal with Islamic banks that adhere to the rulings of in investing and developing money. However, it is not permissible to deal with banks that claim to be Islamic but do not abide by the rulings of Sharia.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/48261
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 48261
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy