To what extent is it permissible to deposit money in a current account with a daily return at the Egyptian Post Authority to protect it from theft and risks, given that the interest is not fixed at a certain percentage and is added daily to the principal capital?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
A current account in banks is a cash deposit (loan) that its owners place for safekeeping. Any interest that the bank grants on this account is considered usury (riba), and it is not permissible to deal with it, even for safeguarding money from theft. A Muslim can open a current account in Islamic banks that do not deal with usury.
Summarized from the full answer at Ftawy · imported
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- Source platform
- Ftawy
- Original fatwa ID
- 113950
- Imported
- Translation status
- Source text, unreviewed
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