A:
It is permissible
for Al-Bir society and other charitable organizations to open bank accounts, if its purpose is as mentioned because this would facilitate making contributions for donors, but it is not permissible to open the account for making any forbidden type of investment and taking Riba (usury)-based interest on deposits. This is according the Hadith that reads:
“The Messenger of Allah (peace be upon him) cursed the devourer (taker) of Riba (usury/interest), its payer, its two witnesses, and its scribe.”
(Part No. 13; Page No. 376)
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
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Depositing in banks...
