This type of money falls under the category of gifts and grants and has nothing to do with any loan that incurs benefit; because opening a current account does not involve a fixed increase as part of the contract. Additionally, prohibition according to its rule occurs with the condition of benefit, not with its provision; because the Prophet, peace be upon him, repaid a debt and added a gift to it, as mentioned in an authentic (Ṣaḥīḥ) Ḥadīth.

Therefore, there is no harm in taking the bank’s incentive for opening a current or temporary account.

Fatwā issued by Dr. Khālid Naṣr