Is it permissible to keep money in the bank for transactions while refusing to take interest, knowing that the bank will benefit from that interest for itself?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is impermissible to deposit money in interest-based (usurious) banks except out of necessity, provided three conditions are met: the need for the deposit due to the absence of another secure place, that the bank's transaction is not 100% interest-based to avoid aiding it in usury, and that the depositor does not take any profit, as it is forbidden interest. Usury is forbidden by the Qur'an, the , and the consensus of Muslims. This deposit is considered a loan, legally, not a trust, because it allows the bank to dispose of the money.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/19980
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 19980
- 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