Mufti Online — Madrasah Ta'leemuddeen

Is it permissible to have a Capitec bank account?

Published as Opening a bank account that accrues interest

· 14 Safar 1448 AH1 min readEnglish

Question

Is it permissible to have a Capitec bank account? All Capitec bank accounts (global one) pay out interest regardless of the account type. It's not possible to stop this even if one asks them.

Is it permissible to open this account? Then to give away the interest to some poor people or relief organisation without hope of reward.

There are other banks who have interest free accounts.

Answer

If you can put the money in a bank which will not give you interest at all (i.e. upon informing them that you don't want to receive interest), then don't use this bank.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/36858
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-36858

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