JUG-2026-0Q7WC09G51
Halal alternatives to interest-bearing bank accounts
AnsweredPublished
Question
The banking system in Guyana is heavily dependent on riba (interest), and there is no local Islamic banking institution. How can a Muslim save money here in a halal way?
Published anonymously
The questioner’s identity is hidden publicly. Authorized administrators may access it when necessary to manage the submission.
Answer
*Wa alaikumus salaam.* If one saves money in the bank, consider using non-interest-bearing accounts, such as current or checking accounts, as these typically do not involve riba. If using a savings account, the interest accumulated should be given away to the poor without the intention of reward.
Your follow-up is private. Quote reference JUG-2026-0Q7WC09G51 so the scholar can see which answer you are asking about.
Helpful and Save are kept on this device only. Nothing about you is sent to JUG Q&A, and clearing your browser data clears them.