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﴿ فَاسْأَلُوا أَهْلَ الذِّكْرِ إِن كُنتُمْ لَا تَعْلَمُونَ ﴾

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Placing money in riba (usury or interest) banks for safekeeping

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Question:
We read in the latest issue of the Dawah magazine, in the fatwa section, that it is not permissible to place money in riba (usury or interest) banks, whether the people in charge of them are Muslims or non-Muslims, because of the assistance this provides them in sin and aggression, even if it is without interest. However, if one is compelled to do so to preserve the money without interest, there is no harm, if Allah wills. We ask for clarification on this, and may Allah reward you with good.

Answer:
This is clear. Placing money in banks for the sake of interest is wrong, whether in banks or elsewhere, where he gives him a thousand and gets back a thousand and one hundred, or a thousand and two hundred; this is wrong. As for placing it for safekeeping out of necessity, putting it with them so he can take it back after a period, because there is danger to his house in that, there is no harm in that out of necessity, purely for the sake of safekeeping, not for the sake of interest.
Source ندوات الجامع الكبير مع الأسئلة - 53 — archive.org (48:28)

The Arabic text is a machine transcription of the audio recording.

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