Are we allowed to use credit union deposit schemes ?
Fatawa Question
Are we allowed to use credit union deposit schemes since they offer dividend instead of interest and it’s a very small amount. 1 % or 2 % dividend is offered on your savings annually. Please advise accordingly as dividend and interest are different as described by the finance experts, dividend is a profit on your money.
Fatwa
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Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2017-03-31
Country of Publication
United Kingdom
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726795
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2017-03-31. Are we allowed to use credit union deposit schemes ?. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726795
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England). Are we allowed to use credit union deposit schemes ?. Manchester England : al-Qalam Shariah Scholar Panel. 2017-03-31.
https://search.emarefa.net/detail/BIM-726795
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2017-03-31. Are we allowed to use credit union deposit schemes ?. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726795
