Savings Account and CD\’s.Category: QuestionsSavings Account and CD\’s.
Nafees Khan asked 1 month ago

Is it lawful/permissible to use the money given to me by the banks in non-Mulim (i.e. in the West) countries as a result of interest from a CD account, savings account with interest, or a promotional account in which you are rewarded (one time only) for opening a specific type of account and performing some banking activities?

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1 Answers
Fiqh Department Staff answered 1 month ago

بِسْمِ ٱللَّٰهِ ٱلرَّحْمَٰنِ ٱلرَّحِيمِ
السلام عليكم ورحمة الله وبركاته
As Salaamu Alaikum Wa Rahmatullahi Wa Barakatuh,
We hope this answer finds you in high Islamic spirit.
Yes, it is permissible to use those funds and you’re supposed to pay the Khums on it.