Darul Iftaa Mahmudiyyah

Are saving accounts in the UK permissible

· 22 Jumada I 1436 AH1 min readFatwa 32325English

Question

I wanted to ask that if opening a saving account in UK is permissible or not because I have heard, some scholars allow it.

Answer

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

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

The permissibility of the use of conventional bank facilities is due to need and necessity.

It is advisable to open up a current account, which is interest free. [1]

If one is in need of opening up a saving account and receives interest, the interest amount should be disposed of by giving it in sadaqah to the poor and needy. [2]

And Allah Ta’āla Knows Best

Asim Patel

Student Darul Iftaa
Venda, South Africa

Checked and Approved by,
Mufti Ebrahim Desai.

www.daruliftaa.net

References (Arabic / Urdu sources)

[1] Fatāwā Uthmānī v:3 p:267 (Maktabah Ma’āriful Quran)

[2]

وَالسَّبِيلُ في الْمَعَاصِي رَدُّهَا وَذَلِكَ هَاهُنَا بِرَدِّ الْمَأْخُوذِ إنْ تَمَكَّنَ من رَدِّهِ بِأَنْ عَرَفَ صَاحِبَهُ وَبِالتَّصَدُّقِ بِهِ إنْ لم يَعْرِفْهُ لِيَصِلَ إلَيْهِ نَفْعُ مَالِهِ إنْ كان لَا يَصِلُ إلَيْهِ عَيْنُ مَالِهِ الفتاوى الهندية -ط. دار الفكر (349/5) دار الفكر

Kitādul Fatāwā v: 5 p:307 (zam zam publishers)

Answered by
Asim Patel
Checked & approved by
Mufti Ebrahim Desai
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Where scholars differ, it’s safer to take the more cautious view.

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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/32325
Fatawa SA: https://fatawa.co.za/fatwa/askimam-32325

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