Banking: Promising Banking Facilities as Incentive for Savings Accounts

Practical Laws of Islam as per the teachings of Imam Khamenei

Banking: Promising Banking Facilities as Incentive for Savings Accounts

English:

Question #1927:

Is the bank management right in promising to grant banking facilities to the holders of savings accounts, should they leave the money in their accounts untouched for, say, six months, noting that this is done as an incentive to customers to deposit their money in such accounts?

Answer #1927:

There is no harm in such an undertaking. Nor is there any harm in the bank’s granting banking facilities as an incentive to depositors.

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