Ruling on depositing money into interest based Bank accounts


بســـم اللــه الرحــمــن الـرحـــيــم

▪️Ruling on depositing money into interest based Bank accounts▪️

Our Shaykh, Muhammad ibn Hizaam -may Allaah preserve him- was asked the following question:

📩 Question:

Is it permissible for one to deposit money temporarily into banks which deal with usury or other forbidden transactions?

📝 Answer:

It is not permissible to do so except in cases of dire necessity such as fearing for one’s life, or fear of being robbed, in which case he deposits his money (temporarily) into a savings account which is free from usury, then at the earliest opportunity he withdraws his money so it’s not utilised in forbidden transactions.

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Translated by:

Abu Ishaq Muhammad Ibn Ahmad Ba-‘Alawi

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Original Fatwa:

https://t.me/ibnhezam/501