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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Graduate of the Islaamic University of Madeenah, having completed the Arabic Language programme at the Institute of Arabic Language before progressing to the Faculty of Sharee'ah, from which he graduated in 2004. He currently resides in Birmingham, UK.

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