What is the ruling on dealing with electronic financial institutions such as "TransferWise" and "PayPal" that invest customer funds in interest-bearing government bonds or deposit them in interest-based banks? And do the merchant's funds become unlawful if withdrawn in this manner? And is he obligated to cease his trade due to the absence of a permissible alternative for withdrawing his funds?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
If an Islamic bank fulfills your need, then deal with it. If it does not fulfill it, then there is no harm in opening a current account in a European bank to bring your money, while limiting it to the extent of the need only.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/184877
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- Ftawy
- Original fatwa ID
- 184877
- Imported
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- Source text, unreviewed
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