Keeping Money in a Riba Based Bank???
s it allowed for me to keep the money in
the Bank for transactions only, if i will not
take any Interest on the deposited money.
But obviously bank will use this interest for
Praise be to Allaah.
It is not permissible to put money in a bank
that deals in riba (usury or interest), and
the Muslim should not do that unless he is
forced to, in which case the following three
1 – He should have the need to do that,
meaning that there is no safe place to keep
his money except this bank. If he can find
another place where he can keep his money
apart from this riba-based bank, then it is
not permissible for him to deposit his
money in this bank which deals with riba.
2 – The bank should not deal one hundred
percent with riba; if the bank’s dealings are
one hundred percent with riba then it is not
permissible to deposit his money with them
at all, if you deposit money in the bank then
in this case you can be certain that you
have helped the bank engage in riba, and it
is not permissible to help anyone with riba.
3 – The depositor should not take any
profit, because if he takes any profit that
will be riba, and riba is haraam according to
the Qur’an and Sunnah and the consensus
of the Muslims.
With regard to the questioner’s saying that
if he does not take the interest the bank will
This is not interest, rather it is riba which is
haraam, and it belongs to the bank in the
first place. The depositor does not have the
right to take anything of it, because Allaah
has commanded us to abstain from riba
when He said (interpretation of the
“O you who believe! Be afraid of Allaah and
give up what remains (due to you) from
Ribaa (from now onward) if you are (really)
And He warned against taking riba when He
“And if you do not do it, then take a notice
of war from Allaah and His Messenger”
It should also be noted that depositing this
money in the banks is not regarded as
depositing it in the shar’i sense, because
depositing something in sharee’ah means
leaving it with someone for safekeeping,
which means that the owner cannot use it;
but when money is deposited in the bank,
the bank uses the money, so it is a form of
lending, not depositing for safekeeping.
The fuqaha’ have explained this point, that
if the depositor gives the keeper
permission to use his money, it is no longer
a deposit for safekeeping, rather it is a
loan. (Therefore anything added to the
principle is riba).
And Allaah knows best. May Allaah send
blessings and peace upon our Prophet
See Fataawa Manaar al-Islam, 2/433-440
by Shaykh Ibn ‘Uthaymeen.