What is the ruling regarding someone whose circumstances compel him to work in a bank or [any] local money exchanges in the Kingdom [of Saudi Arabia]…
Tag: bank
Depositing money in a bank which does not deal with ribaa
So is there any sin upon us in leaving this money in the bank, knowing that we extract the zakaah which is due upon it?
Transferring money via banks which deal with ribaa and using the ribaa for good causes
Is it permissible to take ribaa from these banks and donate it in charity to the poor and build charitable homes, etc., instead of leaving it with them?
Having shares in the Islaamic Bank
And that which we have understood is that the bank in question does not trade in ribaa and that the money from the sale of the shares will be used in trading activities which are free from any dealings in interest.