Q: I have a Islamic FNB cheque account that comes with an Islamic pocket savings account that gives me an Islamic profit share every month.
1. Is this Islamic profit share halaal?
2. I use this Islamic pocket savings account to store my money and to keep it safe, and every month I transfer what money I need for the month into my main account from it, so if anyone steals my card they can only steal that month's money and not all of my money, and this also helps me budget my money. If the profit share from this account is haram, do I have to close down my main account (the pocket savings account is tied to it), or must I not have any money in the pocket savings account and leave it empty, or can I just not use the Islamic profit share but keep all my money in the pocket savings account?
3. If the Islamic profit share is haraam but I can keep the account but just not use the profit, can I use the profit share to pay taxes?
A:
1. It is a kaafir bank, and obviously a kaafir does not have any respect for our deen. His respect and loyalty is with money. So a kaafir's mind will be just to see a figure irrespective of the procedure that is adopted. So how can that money be halaal? They may use terms to appease clients, but just using Islamic terms does not make that wealth halaal.
2. If you are using the bank just as a facility for safekeeping your money then you may keep the account.
3. Some of the ulama allow this.
And Allah Ta'ala (الله تعالى) knows best.
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