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The question

What is the legitimate (Shar'i) way to manage funds and conduct commercial transactions in Morocco given the absence of Islamic banks?

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Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

The fundamental principle is the prohibition of dealing with usurious banks, due to the severe warnings against usury, such as Allah's saying: "So take notice of war from Allah and His Messenger," and the Prophetic tradition: "Allah has cursed the one who consumes usury, the one who feeds it, its scribe, and its two witnesses," and he said: "They are all equal." Therefore, depositing money in them is forbidden because it assists in sin, and it is incumbent upon the Muslim to shun them and denounce them. However, if necessity dictates the preservation of money due to the absence of an Islamic alternative, then it is permissible to deposit in a current account only, as Allah says: "Except for that to which you are compelled." And it is not permissible to conduct commercial transactions with them.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
78327
Added here
. This is when the answer was added to El Fatwa, not the fatwa's date.
Text
Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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Read the full answer on Ftawy