The Ruling on Deposits in Riba Banks

Question:
It is not the case that something is mentioned regarding its brothers, or that the rumor is widespread, or that the rumor is toward the stronger opinions, as is authentic in that, and I have not revealed in it, nor have I innovated in them.

Answer:
Rumors are numerous and suspicions are numerous. It is often attributed to students of knowledge that they issued fatwas that are not authentic. So the one who said this statement must answer regarding the fatwa: is it written or recorded? As for merely saying that so-and-so issued a fatwa, that is not permissible. I did not issue a fatwa on this, and I do not recall issuing a fatwa on this. All riba (usury or interest) banks are the same. All riba banks are the same. If the deposit in them is for investment, it is forbidden. But if the deposit in them is for a month only, this is permissible out of dire necessity, if he has many taxes and fears they will be stolen, and there is no place to keep them except the bank, so he deposits them until he needs them or takes them, and he does not receive riba interest on them. There is no harm in this for the sake of dire necessity. They did not call upon people to leave their dirhams and money and to leave them; this is dire necessity. So this is permissible, and scholars have issued fatwas on this out of dire necessity in Bank Abu 'Uday and others. But as for depositing for the sake of riba investment, this is forbidden, so it is not permissible.