Banking: Receiving Interest on Deposits in Islamic-State Banks
Practical Laws of Islam as per the teachings of Imam Khamenei
Banking: Receiving Interest on Deposits in Islamic-State Banks
English:
Question #1904:
What is the ruling in the matter of taking interest on the money deposited with the banks in Islamic states?
Answer #1904:
It is not permissible if the money is deposited under the title of loan and the payment of interest is stipulated in the transaction or depositing money is based on interest.
-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Banking