Depositing with Islamic banks

Fatawa Question

Assalamu Alaikum. I want to ask you about Islamic banking system. Bangladesh is a Muslim majority country. But her government doesn't follow Islamic laws. As a result there is interest system in our banks. Some of the families of our country deposit some money in banks and they get some monthly interest from there. That is the only income source of those families. As government is allowing the interest system so should general public be punished in Islamic laws ?

Fatwa

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Publication Date

2002-11-30

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Islamic economics
• Profits
• Bangladesh
• Bank deposits
• Usury
• Islamic Banks

Data Type

Fatawa

Language

English

Record ID

BIM-724620

• APA
• MLA
• AMA