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Bank FD As Hedge Against Inflation
Salamualaikum
Is it acceptable to keep money in FD to prevent its devaluation from inflation?
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2 Replies
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Bank FD As Hedge Against Inflation
updated 1 year, 3 months ago
3 Members
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2
Replies
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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.
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