-
Bank FD As Hedge Against Inflation
Salamualaikum
Is it acceptable to keep money in FD to prevent its devaluation from inflation?
-
1 Reply
-
Bank FD As Hedge Against Inflation
updated 2 hours, 56 minutes ago
2 Members
·
1
Reply
-
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.
Sponsor Ask Ghamidi
Please sponsor Ask Ghamidi so that we can continue to provide and improve this community platform.
In the last 1826 days, 8,705 registered users have posted 63,771 messages under 18,431 unique topics on Ask Ghamidi.
