Bank accounts deposits, etc. : interest on donation on credit

Fatawa Question

Assalamu `Alykum Dr. Monzer, I hope you're doing fine and enjoying Allah's blessings. I have a personal question about a new program designed for Canadians to help them donate more and at the same time get better tax refund. I got to know about the program from a friend of mine. I would really appreciate your look at the attached chart to see the step-by-step process of how the system works and educate me on whether it is totally unacceptable from the Islamic perspective or there is a room for consideration. Your earliest reply is greatly appreciated. Jazakum Allahu Khairan

Fatwa

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Publication Date

2008-12-23

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Money
• Interest rates
• Bank deposits
• Bank loans
• Usury
• Donations
• Bank accounts
• Finance companies

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-730429

• APA
• MLA
• AMA