Interest
Question
If we deposit some of our savings in a bank account for our children and years later we get that back with profit, is that profit permissible and how does is differ between a boy and a girl?
Answer
This is interest, hence haraam. This money must be given to the poor without the intention of receiving any reward.
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Zakaria Makada
- Checked & approved by
- Mufti Ebrahim Salejee (Isipingo Beach)
Where scholars differ, it’s safer to take the more cautious view.
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/17942
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-17942
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