The Ruling on Deposits in Interest-Based Banks
Machine translationRead the Arabic original
Question:
To the honorable Shaykh, our father: Abdul Aziz ibn Abdullah ibn Baz (may Allah preserve him), amen.
Peace be upon you and the mercy of Allah and His blessings:
Is it permissible to conduct transactions in the public banks of the Kingdom of Saudi Arabia, such as deposits and others; for example, the Saudi American Bank, and the banks of Riyadh, al-Arabi, and al-Britani? And is there no harm in depositing in the Al-Rajhi Company?
Please inform us—may you be rewarded, and may Allah reward you with the best reward for Islam and the Muslims.
And peace be upon you and the mercy of Allah and His blessings.
Answer:
And upon you be peace, and Allah’s mercy and blessings, and after that:
We know of no obstacle to the permissibility of depositing in the Al-Rajhi banks.
As for the other banks, the safest course is not to deposit in them except out of dire necessity; for the sake of preservation only.
As for interest-based transactions, they are forbidden with everyone.
May Allah guide everyone to what pleases Him, and peace.
Grand Mufti of the Kingdom of Saudi Arabia
Abdul Aziz ibn Abdullah ibn Baz
To the honorable Shaykh, our father: Abdul Aziz ibn Abdullah ibn Baz (may Allah preserve him), amen.
Peace be upon you and the mercy of Allah and His blessings:
Is it permissible to conduct transactions in the public banks of the Kingdom of Saudi Arabia, such as deposits and others; for example, the Saudi American Bank, and the banks of Riyadh, al-Arabi, and al-Britani? And is there no harm in depositing in the Al-Rajhi Company?
Please inform us—may you be rewarded, and may Allah reward you with the best reward for Islam and the Muslims.
And peace be upon you and the mercy of Allah and His blessings.
Answer:
And upon you be peace, and Allah’s mercy and blessings, and after that:
We know of no obstacle to the permissibility of depositing in the Al-Rajhi banks.
As for the other banks, the safest course is not to deposit in them except out of dire necessity; for the sake of preservation only.
As for interest-based transactions, they are forbidden with everyone.
May Allah guide everyone to what pleases Him, and peace.
Grand Mufti of the Kingdom of Saudi Arabia
Abdul Aziz ibn Abdullah ibn Baz
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.