Is it permissible to deposit money in banks?
Machine translationRead the Arabic original
The Shaykh : I am not going to tell you that the money, which is a benevolent loan, is deposited in the bank. Do you think that the hand of riba (usury or interest) does not reach it?
The questioner : Certainly, it must.
The Shaykh : So the answer is that it is not permissible. There is no aspect of dealing with an Islamic bank, a British bank, or an American bank where there is a difference, except in one case.
The questioner: Yes.
The Shaykh : And that is the safe deposit box. You rent a safe deposit box and deposit your money in it, so the hand of the bank does not reach it.
The questioner: Yes.
The Shaykh : When you want to take something from it, you take it under the supervision of an employee there, who has a key, and you have a key. With this safe deposit box, you preserve your money from the hand of riba (usury or interest) reaching it. But other than that, no.
The questioner : May Allah reward you with good.
The Shaykh : And beware of that.
The questioner : I may travel today, but I would like to postpone my travel.
The questioner : Certainly, it must.
The Shaykh : So the answer is that it is not permissible. There is no aspect of dealing with an Islamic bank, a British bank, or an American bank where there is a difference, except in one case.
The questioner: Yes.
The Shaykh : And that is the safe deposit box. You rent a safe deposit box and deposit your money in it, so the hand of the bank does not reach it.
The questioner: Yes.
The Shaykh : When you want to take something from it, you take it under the supervision of an employee there, who has a key, and you have a key. With this safe deposit box, you preserve your money from the hand of riba (usury or interest) reaching it. But other than that, no.
The questioner : May Allah reward you with good.
The Shaykh : And beware of that.
The questioner : I may travel today, but I would like to postpone my travel.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.