What is the ruling on depositing money in an Islamic bank and living off its profits, considering leaving the current job that conflicts with performing prayers in congregation, memorizing the Qur'an, and observing voluntary fasts, for the purpose of dedicating oneself to worship?

A Muslim must give every due right. It is Allah Almighty's right that prayers be observed in congregation and that one draw closer to Him through supererogatory acts of worship. It is the family's right that sufficient time be spent to fulfill their needs. A Muslim should balance his work with these demands. We cannot advise him to leave his job or sell his house for investment, as this is subject to his own discretion. As for investing in an Sharia (definition)-compliant Islamic bank, it is permissible, and there is no objection to the salary being deposited into a current account in an Islamic bank.