In light of inflation and rising prices, are bank interests considered usury (riba), and what should the simple folk who rely on them to cover their living needs do?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
There is no disagreement among scholars that bank interest is usury (riba), forbidden by the Qur’an, the , and the consensus of the Ummah. High inflation rates do not change this ruling. For anyone who deposits money in a usurious bank and receives interest on it, this is precisely the forbidden usury. For those who wish to invest their money, they can do so through Islamic banks that adhere to principles.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/93902
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- Ftawy
- Original fatwa ID
- 93902
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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- Read the full answer on Ftawy