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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

conditions apply:

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

take it:

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)


[al-Baqarah 2:278]

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”

[al-Baqarah 2:278-279]

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.

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