Islamic banks

Submitted by user2 on Thu, 2018-01-04 06:42

Q: Is it permissible to saver money in a savings account in an Islamic bank? We are only using the actual money which we have saved. Whatever savings profit we receive from the bank, e.g. 2% etc. will be given to the poor

A: On account of some unpleasant experiences we have had with these banks we no more consider them to be Islamic.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Business and Dealings›Islamic Finance

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