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Is it possible to have a bank account and deposit money, where that bank deals with interest related matters.

Answered as per Hanafi Fiqh by Askimam.org

I am living in Non-Muslim country. Here we can not find any Interest free banking system. Is it allowed to deposit money in bank where they involved in interest.

Answer

Interest is strictly prohibited as expressly mentioned in the Qur’aan and Ahaadith.

However, if one uses the bank facility to keep his money, he will receive interest. That amount should be disposed off by giving it away to the poor
and needy.

And Allah Taãla Knows Best.

Was salaam

Mufti Ebrahim Desai
FATWA DEPT.

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This answer was collected from Askimam.org, which is operated under the supervision of Mufti Ebrahim Desai from South Africa.

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