Does closing an account in a usurious bank and opening another in an Islamic bank mean that it is permissible to deal with the aforementioned companies?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
Opening a current account without interest in a usurious bank is forbidden, unless certain conditions are met: there is no Islamic bank available, and there is a fear of one's money being stolen. Otherwise, it is impermissible. However, if the account is in an Islamic bank, then participation in the aforementioned companies is permissible if the two conditions mentioned in no. 30635 are met.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/48836
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- Ftawy
- Original fatwa ID
- 48836
- Imported
- Translation status
- Source text, unreviewed
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