What is the ruling on depositing money in savings accounts and deposits in Islamic banks and benefiting from their profits, and what is the method of lawful earning from Islamic banks and joint-stock companies, and is it permissible to specify a percentage for profit or a monthly amount?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is permissible to deal with Islamic banks, deposit funds in them, and invest them in savings accounts. The profits derived therefrom are also permissible, as long as the bank's transactions adhere to the rulings of Islamic . This can be verified by inquiring with the bank's Sharia Supervisory Board or by asking trustworthy scholars about the bank. A sound (profit-sharing partnership) is based on a known share of the profit.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/183817
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- Ftawy
- Original fatwa ID
- 183817
- 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