Working in banks and depositing money in them
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Q: What is the ruling in Islam regarding those who work in banks and deposit their money in them without taking interest?
A: There is no doubt that working in banks that deal in riba (usury or interest) is not permissible; because that is aiding them in sin and transgression. And Allah the Exalted said: [Al-Ma'idah: 2]. It is also established from the Prophet (peace and blessings be upon him) that he cursed the one who eats riba, the one who gives it, the scribe, and the two witnesses, and he said: Reported by Muslim in his Sahih.
As for depositing money in banks with monthly or annual interest, that is riba (usury or interest) which is forbidden by the consensus of the scholars. As for depositing it without interest, the safest course is to avoid it except in cases of dire necessity, if the bank deals in riba; because depositing money with them, even without interest, is aiding them in their riba-based transactions. So it is feared that the owner of the money may be among those who aid in sin and transgression, even if he did not intend that.
So it is obligatory to be cautious of what Allah has forbidden and to seek the proper ways to preserve and manage wealth. May Allah guide the Muslims to what brings them happiness, honor, and salvation, and facilitate for them the swift work of establishing sound Islamic banks free from riba-based transactions. He is the One who has the power to do that and is capable of it. And may Allah send prayers and peace upon our Prophet Muhammad, his family, and his companions.
A: There is no doubt that working in banks that deal in riba (usury or interest) is not permissible; because that is aiding them in sin and transgression. And Allah the Exalted said:
And cooperate in righteousness and piety, but do not cooperate in sin and aggression. And fear Allah; indeed, Allah is severe in penalty.
وَتَعَاوَنُوا عَلَى الْبِرِّ وَالتَّقْوَى وَلا تَعَاوَنُوا عَلَى الْإِثْمِ وَالْعُدْوَانِ وَاتَّقُوا اللَّهَ إِنَّ اللَّهَ شَدِيدُ الْعِقَابِThey are all the same.
هم سواءAs for depositing money in banks with monthly or annual interest, that is riba (usury or interest) which is forbidden by the consensus of the scholars. As for depositing it without interest, the safest course is to avoid it except in cases of dire necessity, if the bank deals in riba; because depositing money with them, even without interest, is aiding them in their riba-based transactions. So it is feared that the owner of the money may be among those who aid in sin and transgression, even if he did not intend that.
So it is obligatory to be cautious of what Allah has forbidden and to seek the proper ways to preserve and manage wealth. May Allah guide the Muslims to what brings them happiness, honor, and salvation, and facilitate for them the swift work of establishing sound Islamic banks free from riba-based transactions. He is the One who has the power to do that and is capable of it. And may Allah send prayers and peace upon our Prophet Muhammad, his family, and his companions.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.