The Difference Between the Ruling on Opening a Current Account and a Savings Account in Riba-Based Banks
Does the ruling on opening a current account differ from that of a savings account in Islamic law in riba-based banks?
Answer
I say, and with God's help: It is not permissible to open a current or savings account in a usurious bank except out of necessity when there is no Islamic bank available. If he receives interest from his account in the usurious bank, he must give it in charity, and God knows best.