MISCELLANEOUS | Banking and ribaa (interest/usury) |

Depositing money in a bank which does not deal with ribaa

Question: These days, many accidents occur and blood-money is difficult (to pay). So, as a group, we agreed to collect a large sum of money and deposited it in Bank ar-Rajhee for safe keeping, where it remained for some time. So is there any sin upon us in leaving this money in the bank, knowing that we extract the zakaah which is due upon it. Please advise us, and may Allaah reward you with good.

Response: There is no harm for it (the money) to remain in Bank ar-Rajhee as it does not deal with ribaa from that which we know.

Shaykh Ibn Baaz

Silsilah Kitaab ad-Da'wah (1), al-Fataawa - Volume 1, Page 150

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Published: 18 July 2001