Depositing money of underage children in a bank dealing in interest


416

Q 1: Is it permissible to deposit the money of underage children in a bank dealing in interest, whether national or international, and whether owned by Muslims or non-Muslims?


A: It is impermissible to deposit money in banks which deal in Riba (usury), unless it is a case of necessity. If they are obliged to do that to preserve the money, they should deposit it without taking any interest on the deposited money.




Tags:




Do the acts of virtue and stay away from the bad deeds,  you are dealing with a generous Lord