Praise be to Allaah.
Depositing one’s money in a riba-based bank helps the bank to deal in riba; this applies even if you do not get any interest on your
If you do get interest, this is the riba that is forbidden by
Allaah and His Messenger. The Messenger of Allaah (peace and blessings
of Allaah be upon him) cursed the one who consumes riba and the one who
Whoever has wealth that he wants to save or invest should
look for a permissible way of doing so. He may give the money to a
trustworthy man to do business with it for him, and they can share the
profit in whatever manner they agree upon.
If he cannot find any way to save it other than depositing it
in the bank, then there is no sin in that if it is done out of necessity, so
long as that does not involve any interest.
He should choose the least evil of the banks, and the one
that is closest to the way of dealing that is prescribed in sharee’ah.
Shaykh ‘Abd al-‘Azeez ibn Baaz (may Allaah have mercy on him)
With regard to depositing money in bank accounts that pay
interest monthly or annually, this is a kind of riba that is forbidden
according to scholarly consensus. With regard to depositing it without
interest, it is better not to do that except in cases of necessity if the
bank deals with interest, because depositing money with the bank, even if no
interest is paid, helps the bank to engage in its riba-based transactions,
so there is the fear that the one who does this may come under the heading
of those who help others in sin and transgression, even if he does not
intend to do so. We must beware of that which Allaah has forbidden and look
for sound ways of preserving and disposing of wealth. May Allaah help the
Muslims to do that which will lead to their happiness and victory and
salvation. May He help them to quickly establish Islamic banks that are free
of riba, for He is Able to do that. May Allaah send blessings and peace upon
our Prophet Muhammad and his family and companions.
Fataawa Ibn Baaz, 4/30, 311
See also question no.
And Allaah knows best.