Is it permissible to buy a car in installments from a usurious bank if the deposit in the same bank covers the price of the car and cancels the installment interest?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is not permissible to deposit money in a usurious bank except out of necessity. The usurious deposit must be withdrawn, and the interest accrued on it must be spent on charitable causes, not for personal benefit. This money can be used to purchase a car in cash after withdrawing it, or it can be deposited in an Islamic bank and the car can be purchased through -compliant Murabaha.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/87237
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 87237
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy