Back to search
The question

Is it permissible to open a savings account at the Housing and Development Bank with 200 EGP to gain priority in purchasing an apartment, knowing that the sole purpose is to gain priority and not to benefit from interest?

Share this answer

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

If a bank deals with usury (riba) and stipulates a late fee interest for overdue installments, it is not permissible to open a savings account with it, nor to purchase an apartment from it in installments, unless there is a legitimate necessity. The absence of an intention to accrue usurious interest does not permit entering into or affirming a usurious contract.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Where this answer came from
Source platform
Ftawy
Original fatwa ID
133921
Imported
Translation status
Source text, unreviewed
Read the full ruling
Read the full answer on Ftawy