AskImamDarul Iftaa Mahmudiyyah (AskImam)

Can a person do Fixed deposit in bank to help poor people.

Fatwa 6552English
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Question

A person has around 50k U.A.E Dirhams in Emirates Bank International. Currently he said to bank that he don?t need interest and he is not paid. His query is if he can do fixed deposit with the intention to utilize the interest value in helping the poor people.

Answer

It is not permissible to get into any interest bearing transaction with the intention of giving the interest to charity. Nabi (Sallallaahu Alayhi Wasallam) cursed all those people who enter into any interest bearing transaction. (Mishkat pg.244; Qadeemi)

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

Answered by
Mufti Ebrahim Desai
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