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The question

How can one dispose of all the money deposited in an interest-based savings account, including the mandatory amount (five dirhams) on which interest accrues, knowing that one does not wish to keep any money in an interest-based bank?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

If a Muslim is compelled to open an account in an interest-based bank, it must be a current account that does not accrue interest, because necessity is determined by its extent. If the need cannot be met except by opening a savings account, it is permissible due to necessity, but the usurious interest must be disposed of, and the money withdrawn as soon as possible to avoid further interest. However, in the absence of compulsion, it is not permissible to deal with interest-based banks, due to it entailing cooperation in sin.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
61576
Imported
Translation status
Source text, unreviewed
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