The ruling on securing Money in Banks that deal with Riba
Question :
The person who has a sum of money and he places it in one of the banks with the intent of keeping it in a safe place and paying the Zakah due on it when a year passes on it, is that permissible or not? Please give us a beneficial answer. May Allah reward you with good.
Answer:
It is not permissible to secure money in banks that deal with Riba, even if one does not take any interest. This is due to what that contains of assisting them in sin and transgression, and Allâh has prohibited that. However, if a person is forced to do that and he cannot find any other place to keep his money safely other than the banks that deal in Riba, there is no sin in that, if Allâh wills, due to the necessity. Allâh says:
"Indeed He has explained for you what He has forbidden for you, except what you are forced to do (due to dire necessity)."
Whenever there is an Islamic bank present or a safe place that does not contain any aiding in sin and transgression, the person should deposit his money in it and it is not permissible for him to deposit his money in the bank that deals in Riba.
Source:
Ash-Shaykh Ibn Baz
Fatawa Islamiyah, Vol. 3 Page 382
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