What is the ruling on opening a savings account at Dar Al-Safaa, which is affiliated with a usurious bank, for receiving salary and saving money instead of a current account at a usurious bank, and what is the ruling on using an ATM card that includes a cash advance service?
It is permissible to open a savings or current account and use the advance payment (cash advance) ATM card with a branch of a usurious bank, if its transactions are compliant with Islamic . However, if it engages in usurious dealings, it is not permissible to transact with it except in cases of extreme necessity, such as protecting money from theft or usurpation. In such a case, the money should be placed in a current account that yields no profit. If one is compelled to place it in a savings account due to the unavailability of an alternative, then the interest gained must be disposed of by spending it on charitable causes.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/121384
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 121384
- 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