Profits from a bank account

Q: Please can you assist with the following questions?

1. I have a *hajj account* as well as a *cheque account* with Al Baraka bank. The amount grows as per the profits the bank makes. Is this acceptable according to shariat? Should I cancel all growth and just keep the amount as is?

2. I have opened up an account with FNB shariat compliant for my son. He was given a lot of gifts Alhamdulillah, therefore we have kept all his monetary wealth in an FNB shariat compliant account. The amount in the account will grow. Is this acceptable? Should I rather ask the bank to stop all growth and let the amount stay as is?

3. Do I have to pay zakaat considering the wealth in my hajj account also? 


1 - 2. On account of the talk that is in circulation we do not approve of the workings of any bank. So we cannot tell you whether the growth is halaal or not. The hadeeth says that we should stay away from anything that we are unclear about.

3. Yes. 

And Allah Ta'ala (الله تعالى) knows best.


Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)