Does closing an account in a usurious bank and opening another in an Islamic bank mean that it is permissible to deal with the aforementioned companies?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
Opening a current account without interest in a usurious bank is forbidden, unless certain conditions are met: there is no Islamic bank available, and there is a fear of one's money being stolen. Otherwise, it is impermissible. However, if the account is in an Islamic bank, then participation in the aforementioned companies is permissible if the two conditions mentioned in no. 30635 are met.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/48836
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 48836
- 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