The ruling on the benefit of a deposit in the bank
Machine translationRead the Arabic original
Question:
Honorable Shaykh, may Allah grant you success. A man was traveling outside the country and had a sum of money that he had placed in one of the banks. He pays the zakah on the money present each year. He says: Is the interest he receives from the bank on this deposited amount lawful or forbidden?
Answer:
If it is riba (usury or interest), it is forbidden. If the bank invests it in riba, the interest is forbidden. This is the norm for banks: they invest the balances with riba interest. So take only your principal and do not take the interest that came from riba.[Al-Baqarah 2:278] Yes.
Honorable Shaykh, may Allah grant you success. A man was traveling outside the country and had a sum of money that he had placed in one of the banks. He pays the zakah on the money present each year. He says: Is the interest he receives from the bank on this deposited amount lawful or forbidden?
Answer:
If it is riba (usury or interest), it is forbidden. If the bank invests it in riba, the interest is forbidden. This is the norm for banks: they invest the balances with riba interest. So take only your principal and do not take the interest that came from riba.
fear Allah and give up what remains [due to you] of interest, if you should be believers.
اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِن كُنتُم مُّؤْمِنِينَ
Source
شرح إغاثة اللهفان من مصائد الشيطان لابن القيم، فصل في القلب الميت — islamhouse.com (1:03:35)
The Arabic text is a machine transcription of the audio recording.