What is the ruling on current accounts in interest-based banks from which no interest is taken, and on guarantees issued by banks for a fee and the reservation of a portion of the balance, and what is a beneficial book on Islamic financial transactions?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The work of a usurious bank is based on lending and borrowing with interest, and this is the usury forbidden by the Qur’an, the , and scholarly consensus. Placing money in these banks without taking interest is considered aiding them in their forbidden usurious work, based on the Almighty’s saying: ﴿And do not cooperate in sin and aggression.﴾
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/58336
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- Ftawy
- Original fatwa ID
- 58336
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy