Is it permissible to deposit money in a non-Islamic bank on the premise that there is no difference between Islamic and non-Islamic banks, and that what Islamic banks take is murabaha, in addition to the fact that some scholars have permitted interest, and that, in the opinion of some economists, it is in exchange for the decrease in the value of money?
Usury (riba) is one of the greatest prohibitions and major sins. Allah has threatened those who consume it with war, as He Almighty said: (O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers. And if you do not, then be informed of a war [against you] from Allah and His Messenger. But if you repent, you may have your principal – [thus] you do no wrong, nor are you wronged). And the Prophet, peace and blessings be upon him, said: "A dirham of usury that a man consumes knowingly is worse than thirty-six acts of fornication." What happens in usurious banks is precisely the forbidden usury itself.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/37598
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 37598
- 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