• Transactions & Dealings >> Interest & Insurance

    Question ID: 59783Country: United Arab Emirates

    Title: Saving account since 10 years

    Question: One of my friends has a saving account in UBL Pakistan. He gets 3 to 4 rupees every month as a Riba but he gives that amount to needy people. What should he do? The way he has adopted is ok or not or should he change his account to current? My second question is what the Ulama say about current account?

    Answer ID: 59783

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 972/972/M=09/1436) (1 & 2) Interest money should be given to the poor and needy ones without the intention of reward. Your practice is correct. And in case by depositing money in current account no interest is given then he should convert his account and should not deposit his money in saving account without a need.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India