What is the ruling on dealing with usurious banks?
It is not permissible to deposit money in banks and take interest, nor to borrow with interest, for all of this is explicit and forbidden usury (riba), unless a Muslim is compelled to deposit money without interest. It is also not permissible to work in usurious banks as a manager, clerk, or accountant. Similarly, it is not permissible to rent real estate to such banks, because all of that constitutes cooperation in sin and aggression. The prohibition of usury is explicitly stated in the Quran and , and the Prophet, peace and blessings be upon him, cursed the one who consumes usury, the one who gives it, the one who records it, and its two witnesses.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Original fatwa ID
- 20056
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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