Banks abroad take a fee on deposits
Machine translationRead the Arabic original
Fatwa number ( 21503 )
Q: We inform your eminence that we deal with interest-based banks abroad, and the method is that after depositing the amount, you are paid interest, and when withdrawing, a percentage of 1% to 1.5% of the deposited amount is deducted from you. Does the amount deducted at withdrawal come from the amount given as interest, such that no interest-based amount remains in our liability?
A: What is mentioned is interest (riba) that is forbidden by the Book, the Sunnah, and the consensus of the Muslims, whether the one paying the increase is the bank or the account holder. Therefore, it is obligatory to abandon dealing in this interest-based manner. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: We inform your eminence that we deal with interest-based banks abroad, and the method is that after depositing the amount, you are paid interest, and when withdrawing, a percentage of 1% to 1.5% of the deposited amount is deducted from you. Does the amount deducted at withdrawal come from the amount given as interest, such that no interest-based amount remains in our liability?
A: What is mentioned is interest (riba) that is forbidden by the Book, the Sunnah, and the consensus of the Muslims, whether the one paying the increase is the bank or the account holder. Therefore, it is obligatory to abandon dealing in this interest-based manner. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.