Transactions & Dealings >> Interest & Insurance

Question ID: 37438Country: India

Title: Getting interest from bank as only sole income for older people permissable or not and income from mutual fund company is permissible or not?

Question: Getting interest from bank as only sole income for older people permissable or not and income from mutual fund company is permissible or not?

Answer ID: 37438Posted on: Aug 31, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 380/313/B=1433) Islam has declared interest haram till the Day of Judgment. The ruling is same for young and old ones. We do not know the detail of company's Mutual Fund and its income; hence we cannot say anything about its permissibility and non-permissibility.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Getting interest from bank as only sole income for older people permissable or not and income from mutual fund company is permissible or not?

Question: Getting interest from bank as only sole income for older people permissable or not and income from mutual fund company is permissible or not?

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