What is the ruling on investing money in banks instead of trade to avoid taxes and poor economic conditions?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
There is no objection to investing money in Islamic banks that adhere to rulings, after consulting experts and scholars about their practices. It is not permissible to deposit money in interest-based (ribawi) banks unless there is a necessity, because their operations are based on borrowing and lending with interest, and this is precisely usury (riba).
Summarized from the full answer at Ftawy · imported
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- 70659
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