I don’t believe in the Islamic Bank in our country

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Ref no: 0021#

 

Date: Tuesday, 15th March, 2011

Category

Money Matters

Title

I don’t believe in the Islamic Bank in our country

Question

 

Assalamu’alaikum wr.wb.


respected mufti shahib…

I dont believe in the Islamic Bank in our country nowadays, therefore I keep my money in conventional Bank and give away the interest as charity to needy people without hoping for reward. Even if I put my money in the so called Islamic Bank, I would still do the same think. Is this OK?

Answer

 

Muhtaram / Muhtaramah

In the Name of Allāh, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāh wa-barakātuh.

 

 

Since the interest accrued in conventional or “Islamic” Banks is disposed off, it will not make a difference were the money is kept. You may keep it in either bank and dispose of the interest.

 

And Allah knows best
Darul Iftaa

Madrasah Inaa’miyya

 

· The Sharée ruling herein given is specifically based on the question posed and should be read in conjunction with the question.

· The Darul Ifta bears no responsibility to any party who may or may not act on this answer. The Darul Ifta being hereby exempted from loss or damage howsoever caused.

· This answer may not be used as evidence in any Court of Law without prior written consent of the Darul Ifta.

 

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