What is the ruling on bank interest for savings certificates in light of the current economic conditions?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
The ruling on the returns of investment certificates does not change with economic conditions, but rather with the true nature of the transaction between the bank and the certificate holder: whether it is a loan or a legitimate (profit-sharing partnership).
Certificates dealt with by Islamic banks, in accordance with guidelines, are permissible and their profits are lawful. As for certificates from interest-based banks, they are considered a loan, and their returns are usury (riba).
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/185847
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 185847
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy