Renting house to banks

Q567 :A nationalized bank in my hometown has offered to rent my house, but I am reluctant to accept, because of the activities the bank undertakes. I told my family members who have questioned me that to support usurious practices is like waging a war against Allah. Are we not, however, supporting banks when we open current account with them?


A567 : May Allah reward you for your attitude. It is certainly an action of a good Muslim to refuse higher rent for the reasons you have mentioned. However, you need not go to this extent. You are not actually supporting the bank by giving your house to them on rent. You should not forget that it is perfectly permissible to let your house to non-Muslims. By doing so, you are not encouraging the non-Muslims to stick to their beliefs. This is purely a business transaction which is perfectly permissible. At the time of the Prophet, his companions had all sorts of business dealings with non-Muslims. When the Prophet passed away, his own body armor was pawned with a Jew. That did not constitute support for the Jew in his business or encouragement to him in his practices. When you have an account with a bank, which does not earn you any interest, you are not supporting the bank. You are actually getting a service from the bank which keeps your money safely and provides it to you when you need it. The service is much wider than that, and it facilitates your business. [Some banks even charge a fee every month for providing the services.]


Our Dialogue ( Source : Arab News - Jeddah )