Depositing money in interest-based banks

Fatwa, Shaykh 'Abdur-Razzaaq ibn 'Afeefee, Transactions 9 June 200722 February 2017 Abu 'Abdullaah

Reference: Fataawa wa Rasaa.il Shaykh ‘Abdur-Razzaaq ‘Afeefee – Page 470, Fatwa No.4

Question: What is the ruling regarding the profits (interest) from interest-based banks?

Response: If he deposits money in an interest-based bank, then he should take his total deposit, and donate the profits (interest) to charitable causes.

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He is a graduate of the Islaamic University of Madeenah, having graduated from the Institute of Arabic Language, and later the Faculty of Sharee'ah in 2004. He currently resides in Birmingham, UK.

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