Interest-based deposits in the Muslim countries

Fatawa Question

I live in a Muslim country. I have kept my savings in that particular category of accounts on which interest is not paid. However i rarely draw any money, as i am saving it for some future plan. The question i would like to ask is should i deposit my money in an interest paying account, and pay the interest money to some poor person, or that would be contrary to spirit of Shari’ah. best regards

Fatwa

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Publication Date

2002-04-15

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies

Topics

Data Type

Fatawa

Language

English

Record ID

BIM-724614

American Psychological Association (APA)

Qahf, Mundhir. 2002-04-15. Interest-based deposits in the Muslim countries. .
https://search.emarefa.net/detail/BIM-724614

Modern Language Association (MLA)

Qahf, Mundhir. Interest-based deposits in the Muslim countries. 2002-04-15.
https://search.emarefa.net/detail/BIM-724614

American Medical Association (AMA)

Qahf, Mundhir. 2002-04-15. Interest-based deposits in the Muslim countries.
https://search.emarefa.net/detail/BIM-724614