Variable interest and interest under other names, prize bonds and accounts : interest earned in 401K account

السؤال

Assalamu Alaikum Brother, My question is concerning 401 K retirement account, I wasn't sure until recently I heard that 401 K or retirement account uses interest or Riba, I know that 401 K fidelity uses dividends is that still not allowed according to Islam. Also is saving money in a savings account. I know it accumulates dividends or you have to put a certain amount on your taxes every year if you have saved in a savings account. Now are Muslims allowed to save money in a savings account and also what kind of 401 k account can one save money to or what is one's options for saving money for retirement. Can one use a savings account or is one supposed to cash money and save them at home. Please, give some helpful information. May Subhana Allah keep us successful in faith of being good Muslim. Thank you, Omar

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2003-04-01

التخصصات الرئيسية

العلوم المالية و المحاسبية
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• الربا
• حسابات التوفير

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-725831

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