Banking: Permissibility of Distributing Depositors’ Profits to Third Parties

Practical Laws of Islam as per the teachings of Imam Khamenei

Banking: Permissibility of Distributing Depositors’ Profits to Third Parties

English:

Question #1923:

Is it permissible, as a matter of religious law, for the bank officials to pay of the profits generated by the money deposited by the customers to any person or legal entity?

Answer #1923:

If the profits are the property of the bank, it is up to the bank to deal with them according to the procedure in place. Yet, if the profits are the property of the depositors, it is at their disposal.

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