Is it permissible to deal with usurious bank interest – on a monthly basis – for the purpose of preserving the capital from the decrease of its purchasing power, given the absence of another investment alternative, and is this case considered one of necessity that permits it?

It is permissible to deposit money in an Islamic bank, and it is not permissible to deposit it in interest-based banks except in cases of extreme necessity where there is no other alternative for safeguarding the money, as Allah Almighty says: {And He has already explained to you what He has forbidden to you, except that to which you are compelled.} And whoever fears Allah — He will provide for him and facilitate for him means of lawful earning.