Is depositing money in a usurious bank for safekeeping only, while disposing of the interest, considered forbidden (haram)? And what is the ruling on opening an account with a symbolic amount (e.g., 70 piasters) for the sole purpose of receiving money?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is not permissible to deposit money in an interest-based bank, nor to open an account to receive or send money through it, even with the intention of getting rid of the interest-based earnings. This is because it constitutes cooperation in sin and aggression, except in cases of necessity, such as the absence of Islamic banks. In such a case, the interest-based earnings must be disposed of by spending them on the welfare of Muslims or on the poor and needy.
Summarized from the full answer at Ftawy · imported
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- Original fatwa ID
- 107112
- Imported
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