Main motive for establishing the first Islamic investment bank in Malaysia
Fatawa Question
My husband and I are less than well-to-do so we just manage to pay our bills. We also help our daughter go to college. Abo-Samir dreams of going to Hajj. I think that if we had a dedicated savings account we could save for such a trip, but we don't want to open a typical USA bank savings account because they earn interest. If we eventually were to open this kind of account, we will not want the interest it earns. What is the best thing to do ? Open one ? Not open one ? And if we do, what do we do with the interest ? We would want to give it away in a Halal manner so that our Hajj money would be Halal. So what is the best thing to do with this interest ? Saving money is the only way we could do this as we have no rich friends or relatives that would give such a wonderful gift, nor would we expect it.
Fatwa
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Publication Date
2003-01-03
Main Subjects
Financial and Accounting Sciences
Religion
Law
Islamic Studies
Topics
Data Type
Fatawa
Language
English
Record ID
BIM-724578
American Psychological Association (APA)
Qahf, Mundhir. 2003-01-03. Main motive for establishing the first Islamic investment bank in Malaysia. .
https://search.emarefa.net/detail/BIM-724578
Modern Language Association (MLA)
Qahf, Mundhir. Main motive for establishing the first Islamic investment bank in Malaysia. 2003-01-03.
https://search.emarefa.net/detail/BIM-724578
American Medical Association (AMA)
Qahf, Mundhir. 2003-01-03. Main motive for establishing the first Islamic investment bank in Malaysia.
https://search.emarefa.net/detail/BIM-724578