Depositing money in a usurious bank just for safety

14-5-2006 | IslamWeb

Question:

salam, i have a doubt about bank deposit,i deposited my money for a time deposit then my intention is not because of interest just for my safety of my money,is it haram and what about the interst i can give to the needy people,so that i will be from the sin of interest,what if i put my money in a normal bank account,is permissible?pls i need an answer for that....sukran

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Answer:

All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger. We ask Allaah to exalt his mention as well as that of his family and all his companions.

 

If the bank where you saved your money is a bank that deals with usury and interest, then this is forbidden by the Book of Allaah and the Sunnah of the Prophet . Please refer to Fataawa 83946 and 85315 on how to get rid of bank interest.

As regards putting your money in a normal bank account, we have already issued Fatwa 81349 on the ruling of opening an account in a bank which deals with usury and interest, and when this is forbidden and when it is permissible, and we clarified the issue of opening a current account when in a necessity.

Allaah Knows best.