The ruling on depositing money in a bank in exchange for a return
Machine translationRead the Arabic original
Question:
Salih. The last question from our brother Isma'il Muhammad al-Jabiri from Cairo, Egypt. He says: What is the ruling on one who places his money in a bank and takes a monthly return on it, knowing that this return is a fixed amount as determined by the bank? I ask for the answer. May Allah bless you?
Answer:
This is riba (usury or interest), and it is not permissible to take it. Rather, one deposits his money in the bank for safekeeping only, and withdraws it when he wants, and does not take a fee in exchange for depositing it in the bank. Yes.
The presenter:
May Allah reward you. Your Eminence the Shaykh
Salih. The last question from our brother Isma'il Muhammad al-Jabiri from Cairo, Egypt. He says: What is the ruling on one who places his money in a bank and takes a monthly return on it, knowing that this return is a fixed amount as determined by the bank? I ask for the answer. May Allah bless you?
Answer:
This is riba (usury or interest), and it is not permissible to take it. Rather, one deposits his money in the bank for safekeeping only, and withdraws it when he wants, and does not take a fee in exchange for depositing it in the bank. Yes.
The presenter:
May Allah reward you. Your Eminence the Shaykh
Source
قناة «إذاعة القرآن الكريم»، نور على الدرب مع معالي الشيخ صالح الفوزان ح7488 — youtube.com (14:19)
The Arabic text is a machine transcription of the audio recording.