Interest

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.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)