Ask Qul - Business / Investment - Interest bank accounts

Pearl of Wisdom

'He who swindles a fellow Muslim brother, Allah snatches away the benediction in his sustenance, thwarts his efforts at earning a livelihood, and relegates him to his own base self.'

Prophet Muhammad al-Mustafa [sawa]

Bihar al-Anwar, v. 76, p. 365, no. 30

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Question : #438

Category: Business / Investment

Subject:	Interest bank accounts
Question:	If I know that the bank will give me interest even without stipulating the conditions, is it permissible for me to deposit in a savings account that takes the form of a term-deposit?
Answer:	Yes, it is permissible, as long as you do not stipulate the conditions of interest.

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