What is the ruling on working in a company that buys and sells stocks, but requires its clients to deposit money in a Riba-based (usurious) bank?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
Depositing money in usurious banks is forbidden because they use the deposited funds in prohibited transactions. The depositor is considered an assistant to the bank in usury, especially given the availability of Islamic banks. The Islamic Fiqh Academy has stipulated the prohibition of dealing with usurious banks for anyone who can deal with an Islamic bank. Therefore, a brokerage firm is not permitted to compel clients to deposit funds in usurious banks.
Summarized from the full answer at Ftawy · imported
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- Ftawy
- Original fatwa ID
- 88879
- Imported
- Translation status
- Source text, unreviewed
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