Is it permissible to establish a company and contribute to it if the main partner insists that the company's accounts be held in a usurious bank?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is not permissible to agree to place company accounts in an interest-based bank when an alternative is available. This is because merely opening an account in an interest-based bank is a form of assistance in sin, and Allah Almighty says: "And cooperate in righteousness and piety, but do not cooperate in sin and aggression." Furthermore, whoever deals with interest-based banks is either a devourer of usury, or an agent for it, or an helper of the usurer. And the Messenger of Allah, peace and blessings be upon him, cursed the devourer of usury, its agent, its scribe, and its two witnesses.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/98754
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 98754
- 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