As there are no Islamic banks in my country, is it permissible to open an account in a conventional bank and earn interest on fixed deposits?
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Sayyed Mohammad Al-Musawi,
Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to religious questions. In the past, he has also spent significant time in India guiding the community. 1543 Answers
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Sayyed Mohammad Al-Musawi, Sayyed Mohammad al-Musawi is originally from Iraq and heads up the World Ahlul Bayt Islamic League in London. Other than being involved in various humanitarian projects, he frequently responds to... Answered 1 year ago
Yes, it is allowed to open an account in non Muslim banks. The interest which they usually add on your money is allowed for you to take as far as you did not put a condition on them to pay you interest, but you know that they usually pay interest.
Wassalam.