Ruling on the prize for the savings book in the Islamic Bank
Question

                What is the ruling on the prize for the savings book in the Islamic Bank?.
Praise be to Allah.
    The ruling on the savings prizes in the bank may be known 
    once we know the nature of the operations of the bank itself. In the case of 
    riba-based banks, it is not permissible to save money in them, or to take 
    the savings prizes that they offer. That which is based on falsehood is 
    itself falsehood. The savings account in a riba-based bank is in fact a loan 
    with interest, and the bank is guaranteeing the money of its customer and 
    paying riba-based interest to the money owner according to its agreement 
    with him. 

    In the case of Islamic banks, there is nothing wrong with 
    taking the savings prizes that they offer, so long as these banks are 
    Islamic in reality and not only in name. The Islamic bank does not guarantee 
    the saver’s money, rather it is exposed to profit or loss, and it does not 
    give a fixed amount if it is profitable, rather it gives a certain share 
    according to the agreement between them. 

    For more information on the characteristics of Islamic banks, 
    please see the answer to question no.
    47651. 

    See also the answer to question no.
    67657. 

    And Allaah knows best.