Opening a bank account and transferring through it and dealing with it
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The fifth question of Fatwa No. ( 2687 )
Q5: They say: Opening a bank account is a type of riba (usury or interest), so it is not permissible for a Muslim to deposit any amount of his in the bank, or to transfer
through it or to deal with it. What is the ruling?
A5: It is not permissible for a Muslim to deposit money in the bank to take riba (usury or interest) on it, and it is not permissible to work as an employee in an interest-based bank; because of what that entails of cooperation in sin and transgression. It is permissible to deposit money in the bank without riba (usury or interest), meaning: without interest out of necessity. As for transferring an amount through the bank for a fee, it is permissible.
Q5: They say: Opening a bank account is a type of riba (usury or interest), so it is not permissible for a Muslim to deposit any amount of his in the bank, or to transfer
through it or to deal with it. What is the ruling?
A5: It is not permissible for a Muslim to deposit money in the bank to take riba (usury or interest) on it, and it is not permissible to work as an employee in an interest-based bank; because of what that entails of cooperation in sin and transgression. It is permissible to deposit money in the bank without riba (usury or interest), meaning: without interest out of necessity. As for transferring an amount through the bank for a fee, it is permissible.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.