Is it permissible to open a savings account in an Arab bank without interest, but benefiting from the monthly prize system granted by the bank based on account numbers?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
If the bank deals in usury, then it is not permissible. These prizes are the very essence of usurious interest. The difference in the distribution method combines usury and gambling, because the customer will deposit his money in the hope of being one of the winners, and he may not be chosen.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/40746
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 40746
- 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