Banking: Ruling on Percentage-Based Profits in Long-Term Bank Deposits**

Practical Laws of Islam as per the teachings of Imam Khamenei

Banking: Ruling on Percentage-Based Profits in Long-Term Bank Deposits**

English:

Question #1919:

What is the view on long-term deposit accounts whereby the money attracts profit calculated as a percentage?

Answer #1919:

There is no problem in depositing money with the bank with the purpose of investing it in any of the shar‘ī transactions. Nor is there any problem in taking the profit made thereof.

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