What is the ruling on money deposited in investment certificates and savings accounts in banks, and are their interests considered usury?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
If the bank is Islamic, does not deal with riba (interest/usury), and has a supervisory board, then there is no harm in owning the profits generated from the investment of your money, even if you do not know the nature of the projects. However, if the bank is not Islamic, it is not permissible to deposit money in it. The interest accrued from such a deposit is riba that must be disposed of by spending it on Muslim welfare, such as assisting the poor and needy, and building schools and charitable hospitals. It is not permissible to deposit it into an Islamic bank except for the bank to undertake its disposal itself.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/66382
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 66382
- 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