Opening a bank account
Question
I’d like to enquire which bank would Mufti Sahib advise us to use in South Africa ?
Answer
We are permitted to open a banking account with the intention of safekeeping and protecting our funds. It is not permissible to open an account with the intention of accruing interest. Since your intention will be safekeeping only, you may utilize any bank that is most convenient for you.
- Answered by
- Mufti Mohammed Desai
Where scholars differ, it’s safer to take the more cautious view.
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Source: Darul Ifta Ibn Masood — https://fataawa.co.za/opening-a-bank-account/
Fatawa SA: https://fatawa.co.za/fatwa/ibnmasood-21559
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