What is the ruling on depositing money in usurious banks?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
Placing money in banks with monthly or annual interest is prohibited usury, by scholarly consensus. As for placing it without interest, it is more cautious to avoid it unless there is a necessity, if the bank deals with usury, because that entails assisting it in its usurious transactions. One must be wary of what Allah has forbidden and seek sound ways to preserve and manage wealth.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/19979
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 19979
- 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