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The question

Is it permissible to deposit money in banks of a foreign country due to a lack of security in the home country?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

The default ruling for depositing money in foreign banks that engage in usurious transactions is prohibition. Personal fears of insecurity in the country do not permit this, as usury is definitively forbidden. This necessity is permissible in cases of fear for the money's destruction or loss, and the absence of an Islamic bank, or a pressing need for checks that can only be processed by that specific bank. In such cases, the money should be deposited as a current account without interest.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
89848
Imported
Translation status
Source text, unreviewed
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