Banking Transactions and Qarz Ul-Hassaneh
Issue No. 2420- The money which is deposited by people as current account with banks has the form of an interest-free loan (qarzul hasanah) to banks in which they may withdraw their savings in the bank whenever they wish to. However, it would be haraam to lay down a condition for interest while depositing the money and in that case, the loan is void too and the bank does not have the right of disposal over it.
