What is the ruling on depositing money in banks, and what is the ruling on money deposited in interest-based banks for previous years and its profits?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
A Muslim is not permitted to deposit money in interest-based (usurious) banks, even without earning interest. This is because it involves engaging in prohibited usury and cooperating in sin, especially since Islamic banks exist. Therefore, the wife must obey her husband in transferring money from interest-based banks to Islamic banks.
As for usurious interest, it is not permissible to benefit from it or leave it in the banks. Rather, it must be taken and spent on charitable causes and for the benefit of Muslims, with the intention of getting rid of unlawful money.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/41036
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 41036
- 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