Is it permissible to deposit money in banks that do not specify interest or profits?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is permissible to deposit money in a bank if it does not deal in usury and its investment adheres to -compliant regulations; otherwise, depositing money in it is forbidden. Among the Sharia-compliant regulations are that the investment must be limited to areas permissible by Islamic law, that the profit from the invested money be a common percentage of the projected profit, and that in the event of a loss, the loss be borne by the principal capital.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/65805
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 65805
- 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.
- Read the full ruling
- Read the full answer on Ftawy