Are funds deposited in Islamic banks safe from confiscation by foreign states? Is it permissible to place them in usurious banks while disposing of the interest and benefiting only from the principal? Is there a safe bank in Egypt, far from usurious suspicions and confiscations?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
Placing money in interest-based banks is impermissible due to its implicit approval and assistance in usury. This is only permissible if a person is driven by dire necessity, such as being unable to safeguard their money from loss or injustice, and if no Islamic bank is available. In times of necessity, the extent of the necessity must be observed. If depositing in a current account is possible, one should not exceed that. It must be understood that fear of confiscation of funds in Islamic banks does not constitute a necessity.
Summarized from the full answer at Ftawy · imported
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- Original fatwa ID
- 48981
- Imported
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