The Ruling on Deposits with Interest in Banks
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Question:
What is the Islamic ruling on one who places his money in a bank, and when a year has passed, he takes the interest?
Answer:
It is not permissible to deposit in banks for interest, nor to take a loan with interest; because all of that is explicit riba (usury or interest).
What is the Islamic ruling on one who places his money in a bank, and when a year has passed, he takes the interest?
Answer:
It is not permissible to deposit in banks for interest, nor to take a loan with interest; because all of that is explicit riba (usury or interest).
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.