What is the ruling on dealing with savings accounts in banks that give the customer interest without specifying its rate or duration?
If the bank operates according to Islamic Sharia and has a Sharia board for oversight, then there is no harm in investing money in it and taking its profits. However, if it does not, then the money must be withdrawn and deposited in Islamic banks.
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- Original fatwa ID
- 41084
- Imported
- Translation status
- Source text, unreviewed
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