Alternatives to interest : inflation, interest and profit loss deposits in Pakistan
Fatawa Question
Assalamu Alaikum : Riba : al-Azhar Fatawa say modern fixed bank interest is not Riba aj-jahliya. Here in Pakistan the devaluation is about 18 % p. a banks pay only 12 % which they call profit. We officially have no Riba bank accounts are profit / loss accounts but in reality its interest as offered by any other bank. I don’t have a job right now and I am unable to enter a business and I need constant income my savings are eroding as I am living on my savings for the past 13 months. Please suggest. Is this profit Riba ? can I take this profit for a certain period of time till I’m able to earn some money through a job or a business ?
Fatwa
Click hereto view more
Publication Date
2003-03-06
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726715
American Psychological Association (APA)
Qahf, Mundhir. 2003-03-06. Alternatives to interest : inflation, interest and profit loss deposits in Pakistan. .
https://search.emarefa.net/detail/BIM-726715
Modern Language Association (MLA)
Qahf, Mundhir. Alternatives to interest : inflation, interest and profit loss deposits in Pakistan. 2003-03-06.
https://search.emarefa.net/detail/BIM-726715
American Medical Association (AMA)
Qahf, Mundhir. 2003-03-06. Alternatives to interest : inflation, interest and profit loss deposits in Pakistan.
https://search.emarefa.net/detail/BIM-726715
