Is My Money Halal If It’s in My Parents’ Riba-Based Bank Account?
Hanafi Fiqh
Answered by Shaykh Yusuf Weltch
Question
Is my saved money haram if kept in my parents’ riba-based bank account, even if I withdraw only the original amount without taking any interest?
Answer
In the Name of Allah, the Most Merciful and Compassionate.
The principle wealth that was deposited initially remains permissible for you to withdraw and use.
However, if you intentionally put your money in the bank knowing that interest will accrue on it, you are sinful for such an action and must repent. If this was unintentional or not done by you, you are not sinful.
Related
Allah knows best
[Shaykh] Yusuf Weltch
Checked and Approved by Shaykh Faraz Rabbani
Shaykh Yusuf Weltch is a teacher of Arabic, Islamic law, and spirituality. After accepting Islam in 2008, he went on to study at Darul Uloom Seminary in New York and completed his studies at Darul Mustafa in Tarim, Yemen.
There, he completed the memorization of the Quran and his study of Islamic Sciences. Throughout his years of study, he was blessed to learn from many great scholars: Habib Umar bin Hafiz, Habib Kazhim al-Saqqaf, Shaykh ‘Umar bin Husayn al-Khatib, and others.
Upon returning, he joined the SeekersGuidance faculty in the summer of 2019.
