Q: I have some savings in a current account from a conventional bank that does not charge interest as far as I have been told, and just over £1000 saved in my saving account, that charges a minimum interest rate, that I do not have to hand now but I am told it is due to go up. I would like to know how it is best to save my money the halal way, shall I change my account to an Islamic account, should I just take the money out and keep this somewhere safe? I would also like to know your suggestions of any good stocks/shares/investments.
الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب
A: You should move your account to a current account of an Islamic bank such as Al-Rayan. Unfortunately, we are unable to offer tax or investment advice.