What is the ruling on dealing with savings accounts in banks that give the customer interest without specifying its rate or duration?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
If the bank operates according to Islamic and has a Sharia board for oversight, then there is no harm in investing money in it and taking its profits. However, if it does not, then the money must be withdrawn and deposited in Islamic banks.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/41084
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 41084
- 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