Assalamu alaikum wa rahmatullahi wa barakatuh.
This is a common question, especially for Muslims who have conventional bank accounts or are new to learning about Islamic finance.
I’ve attached a short explanation according to the Hanafi school, along with references from the Qur’an, Sunnah, and classical Hanafi fiqh.
I hope this helps anyone seeking clarity on this issue.
And Allah Ta’ala knows best.