Question:
As Salaatu was Salaamu alaa Muhammadin Khair il-Wara
As-Salaamu alaikum
Dear Brethren
Can one have a bank account? Bearing in mind banks may use monies they have deposited with to fund harmful business activities e.g. pubs and clubs?
Maddad Ya Awliya Allah
Wa Salaam
Answer:
wa `alaykum salam,
Conscientious Muslims opt for a checking account instead of an interest-bearing account. This is also the reason why Islamic organizations and Masjids meet their banking needs through checking accounts. Certainly the bank is benefiting from your money but this is a compromise.
Imam Senad Agic
The Islamic Cultural Center of Greater Chicago
