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﴿ فَاسْأَلُوا أَهْلَ الذِّكْرِ إِن كُنتُمْ لَا تَعْلَمُونَ ﴾

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Ruling on Placing Money in an Islamic Bank Supervised by Scholars

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There is an Islamic bank in Egypt called the Faisal Islamic Bank, which is supervised by a group of scholars. Some people doubt this bank, while others defend it. So, if one of us places his money in it, does he bear a sin, or is the sin upon the scholars supervising it?
I do not know anything about the state of this bank, nor do I know about it, but I advise every person who has a doubt about any bank, or any company, or any institution to avoid it, because the matter is serious, since the money you put in, if you profit from it, you will eat and drink and be nourished by it, so if you eat and drink and are nourished by this money and it is forbidden, that is one of the causes of the supplication not being answered, as in the hadith where the Prophet (peace and blessings be upon him) mentioned: (The man who travels a long distance, disheveled and covered in dust, stretches his hands to the sky: O my Lord, O my Lord, while his food is forbidden, his clothing is forbidden, and he is nourished by what is forbidden, so how will he be answered?) But if there is a need to put it in the bank because you fear it will be spent, for example, there is no harm, put it for the need of that, and if something comes to you from its profit and he has not openly declared that he deals in usury, then his account is with Allah (Mighty and Majestic).
Source shamela.ws

The Arabic text is copied verbatim from the original source, without any edits.

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