-
Bank FD As Hedge Against Inflation
Salamualaikum
Is it acceptable to keep money in FD to prevent its devaluation from inflation?
-
2 Replies
-
Bank FD As Hedge Against Inflation
updated 2 months ago
3 Members
·
2
Replies
-
A Fixed Deposit (FD) is considered an investment with the bank, and the profit earned from it is generally permissible. A small portion of the bank’s overall income comes from interest on personal loans, which involves Riba. However, income from mortgages and business loans is treated as investment-based, making the majority of the bank’s earnings halal.
-
Please also watch:
Sponsor Ask Ghamidi
Please sponsor Ask Ghamidi so that we can continue to provide and improve this community platform.
In the last 1897 days, 8,999 registered users have posted 65,392 messages under 18,998 unique topics on Ask Ghamidi.
