Banking: Depositing Money in Long-Term Savings Accounts in Non-Islamic Countries

Practical Laws of Islam as per the teachings of Imam Khamenei

Banking: Depositing Money in Long-Term Savings Accounts in Non-Islamic Countries

English:

Question #1911:

Is it permissible to deposit money in long-term savings accounts in the banks of non-Islamic countries that are either in enmity with the Muslims or having treaties with them?

Answer #1911:

In itself, there is no objection to depositing money in the banks of non-Islamic countries provided that this would not lead to strengthening their economic and political power that they might use against Islam and the Muslims. Otherwise, it is not permissible.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Banking