Interest
Submitted by admin on Mon, 2017-01-30 14:51
Q: If we deposit some of our savings in a bank account for our children and years later we get that back with profit, is that profit permissible and how does is differ between a boy and a girl?
A: This is interest, hence haraam. This money must be given to the poor without the intention of receiving any reward.
And Allah Ta'ala (الله تعالى) knows best.
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