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Is National Savings Accounts Islamically permissible?

Tag: National Savings Account

Is National Savings Accounts Islamically permissible?

alqalamMarch 21, 2012

Q: Is National Savings Accounts Islamically permissible? الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب National Savings Account wherein the principle is guaranteed and there is a definite return is not Sharī‘ah compliant. However, if anyone has deposited money into such an account the money so deposited will be liable for Zakāh.  

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Banking Fatawa, Earning Halal Fatawa, Fatawa, Investments FatawaMiscellaneous Fatwā, National Savings AccountLeave a comment
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