Are the monthly interests paid on a sum of money deposited in a foreign bank—a non-Islamic one—considered unlawful, knowing that the money is not a time deposit, can be withdrawn at any time, that the bank is not in need of the money, and that the interests are small compared to the principal amount?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
The interest on money deposited in banks is considered usury (riba), even if it is in a current account, for a current account is a loan from the owner of the money to the bank. Neither the fact that the bank is in a non-Muslim country nor that the depositor is wealthy affects this reality. These interests must be disposed of by giving them to the poor and needy, and it is not permissible for a wealthy person to take them for themselves.
Summarized from the full answer at Ftawy · imported
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- 195860
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