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The question

Is it permissible to sell an apartment and deposit its price in a bank, and then use the profits/interest to pay the rent of another apartment temporarily until it becomes feasible to purchase a new apartment?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is permissible to sell an apartment to buy a larger one. It is permissible to deposit money in an Islamic bank in an investment account and benefit from the profits for rent or other purposes. However, depositing money in a usurious bank to receive usurious interest is not permissible, because interest is forbidden wealth, and one must dispose of it by spending it on the interests of Muslims or for the poor and needy, and it is not permissible to benefit from it. Likewise, it is not permissible to deposit money in a usurious bank for someone who finds an Islamic alternative, lest they be an aid to the usurious bank in its falsehood.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
176350
Imported
Translation status
Source text, unreviewed
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