Mufti Online — Madrasah Ta'leemuddeen

Interest based saving scheme

· 2 Safar 1437 AH1 min readEnglish

Question

My father has passed away and since I have no brother, the only source of income for my mother is the monthly payment that comes against the amount deposited in the saving scheme. As it is an interest based scheme, is it permissible for her to use such earnings for all her needs? She is over sixty.

Answer

It is permissible for her to use the amount deposited by your father, however she should avoid using the interest amount.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/12650
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-12650

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