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Someone having no trade depositing money in a bank

Q 1: I have deposited a sum of money in one of the investment banks that are widespread here. In fact other types of banks, including Islamic ones, have no room here for they are subject to confiscation and insurance laws. Please be informed that I participate in no commercial activity to invest my money in as I work in a governmental job.


A: It is impermissible for you to deposit your monetary savings in usurious investment banks even if you participate in no commercial activity. In fact, this falls under participation in usurious investment and cooperation therein. Moreover, there is a multitude of investment methods other than banks, including trustworthy speculation companies. (Part No. 13; Page No. 362)  May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.

< 4920 Depositing money in...
< 4918 Paying acquired bank...

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The condition having to cover the

Depositing money in banks
What is the Islamic position on

Depositing money in banks
A person needed some money and

Depositing money in banks
Taking a usurious loan from the bank for marriage

Depositing money in banks
Taking a usurious loan from the bank to build a house

Depositing money in banks

Disposing of bank interests

Depositing money in banks

Disposing of the interest added by the bank to the deposited amount without the owner asking for it

Depositing money in banks

Taking a loan without an interest and paying an interest in case of repayment delay

Depositing money in banks