Certificate Of Deposits And Annuities

Certificate Of Deposits And Annuities

Dr. Irfan Shahzad updated 3 weeks, 4 days ago 2 Members · 4 Replies
General Discussions
Dr. Irfan Shahzad
Scholar April 22, 2026 at 10:33 pm

Fixed profit or the fixed rate of profit does not make an investment haram. Depositing with banks is making an investment with banks, and profit is halal.
Nazish Khan
Member April 23, 2026 at 11:37 pm

Is this profit or gain considered RIBA? If not, do we have to pay Zakat on it even if we reinvest the gain without taking it out to spend at the maturity of the CD OR ANNUTIES.Please clarify @ifran76

Jazak Allah

Nazish
Nazish Khan
Member April 26, 2026 at 10:46 am

Is the profit on Certificate of Deposit and Annuities considered RIBA? If not do we have to pay zakat on it even if we don’t use it but re invest it when the CDan Annuities mature? Please advice @Irfan76

Thanks
Dr. Irfan Shahzad
Scholar April 30, 2026 at 12:35 am

It is not Riba that is why it is halal.

Zakat is due when you have extra money in the form of savings and/or investments. Extra money means that it is more than your immediate needs or future needs that are unavoidable, like paying your tuition fee or saving for marriage, etc.

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