Is it permissible for a woman living alone with her child in a foreign country, who is unable to work and possesses a sum of money, to deposit her money in a bank and live off its monthly interest?
It is not permissible for a woman to deposit her money in interest-based (usurious) banks, except out of necessity, such as not finding a safe place to keep her money. This is based on the Almighty’s saying: {And He has already explained to you what He has forbidden to you, except that which you are compelled to [eat or use]}. However, if there is a bank that operates according to principles, then there is no objection to placing money in it for preservation and growth. If a woman is compelled to place her money in an interest-based bank, she must place it in a current account if possible, and she must not benefit from the usurious interest. Rather, she should dispose of it by spending it on public welfare.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Original fatwa ID
- 174449
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- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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