Is It Permissible to Have an Account at a Non-Islamic Bank?
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Is It Permissible to Have an Account at a Non-Islamic Bank?

Questioner

Shahd

Reply Date

Jun 25, 2019

Question

As-salamu `alaykum. I am wondering about the Islamic ruling of opening a bank account. Must it be in an Islamic bank or not? What about any interest I receive in my account? Should I simply discard it or can I use it for personal use or should I spend it on more needy Muslims?

Mufti

Answer


About Prof. Dr. Monzer Kahf

Dr. Monzer Kahf is a professor and consultant/trainer on Islamic banking, finance, Zakah, Awqaf, Islamic Inheritance, Islamic estate planning, Islamic family law, and other aspects of Islamic economics, finance, Islamic transactions (Mu'amalat). Dr. Monzer Kahf is currently Professor of Islamic Finance & Economics at the Faculty of Economics and Management, Istanbul Sabahattin Zaim University, Turkey

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