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Profit on Deposit

Last updated: 24th March 2020
Question ID: #4457
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Asslam u Alaikum My question is, my aunt is a widower, she has a son (about 18 years of age) who does not earn much, she has two daughters. She has some money, will it be permissible for her to deposit that money in a bank and take profit. She has no other source of income.



بسم الله الرحمن الرحيم

الجواب حامداومصليا


If it is a conventional bank then this will be interest, and not permissible. If the bank is Shariah compliant then it will be permissible. We advise you to consult your local Ulamaa.


And Allah knows best

2 ٍSha'ban 1441/ 26 March 2020

Mufti
Answer last updated on:
26th March 2020
Answered by:
Ulamaa ID 04
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Location: London