Is it permitted to deposit money in the bank without interest and to keep money in demand deposit in the bank?

A Brief Description of the Question: 

Salam Alikoum, I have two bank accounts. One is where I receive my monthly payment, the other is a bank loan which I unfortunately have. Would Allah accept my donation if I gave it from the bank where I receive my income? I haven't donated any money for a very long time and I feel bad about it.

The Answer: 

Such a transaction is not interest and is permitted. However, it is more appropriate not to keep money in banks so as not to support the companies which perform interest-related transactions.

In our time, it is important that Muslims should be very careful about interest and interest-related transactions and that they should not engage in it in the slightest. This is because the market and commercial dealings have come to such a state that they force one into interest and give the assumption that they cannot carry on without interest.

So under such circumstances, it is vital that a believer behave watchfully and reasonably so that his/her faith is not harmed.

However, economical conditions and principles of our time bring traders face to face with interest-related companies even if indirectly. And this happens through taking and giving bank checks, collecting debts, sending money orders and so on.

In this case, selling the check or voucher which is not yet due for less amount than the amount written on it is not permitted, as it is a direct involvement in interest. However, as there is no other way in collecting check and voucher money or otherwise it would be very hard to carry out transactions, one does not involve in interest if one performs transaction by paying normal expenses of dealings. This is because in that there is no state like keeping the money and obtaining interest. To money orders, too, the same principles apply. When the money sent by the customer or by the debtor comes through money order of a bank, neither the customer nor the owner engages in interest in any way. Actually, the money order is notified on its due date, and the owner goes and withdraws his/her money.

All that said, it is best to carry out such dealings without opening an account. If commercial transactions do not function without opening a small account, as the accumulating interest will be left to the bank, this means support to an interest-related organization however little it is. It is most reasonable not to leave money in the bank.

Mehmed Paksu İbadet Hayatımız-1

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