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﴿ فَاسْأَلُوا أَهْلَ الذِّكْرِ إِن كُنتُمْ لَا تَعْلَمُونَ ﴾

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The ruling on depositing money in riba (usury or interest) banks

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Question:
The questioner says: Is it permissible for us to place our money in riba (usury or interest) banks, given that there are Islamic banks or financial companies that announce they do not deal in riba?

Answer:
It is permissible to deposit in riba (usury or interest) banks only in case of dire necessity, if no other place is available and one fears for the safety of the money, placing it there without riba, merely as a trust. However, if it is easy to deposit it in a sound place, that is obligatory, so as not to assist them in any of the riba. Yes.
Source قناة «فضيلة الشيخ ابن باز Alsheikh Binbaz»، 421 هل يجوز أن نضع أموالنا في البنوك الربوية مع وجود بنوك إسلامية أو شركات مصرفية تعلن أنها... — youtube.com

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

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