✿ Written by: Saudi Fatwa Committee (Fatāwā)
It is not permissible to deposit money in interest-based banks or banking institutions without necessity. However, if a person is compelled to do so for the sake of safeguarding their wealth, then it is allowed.
Reference:
Al-Lajnah ad-Dāʾimah, Fatwā No. 3830
❖ Ruling on Those Who Deposit Wealth in Interest-Based Banks
It is not permissible to deposit money in interest-based banks or banking institutions without necessity. However, if a person is compelled to do so for the sake of safeguarding their wealth, then it is allowed.
Reference:
Al-Lajnah ad-Dāʾimah, Fatwā No. 3830
