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Incentive From Bank
Dear Sir,
I have a question regarding the incentive some banks provide to the employees of a company as a reward of salary disbursement through the Bank in question. Is it interest and illegal to use that money according to Islamic principles?
Regards,
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3 Replies
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Incentive From Bank
updated 1 year, 10 months ago
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Replies
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Please elaborate on the nature of incentives being discussed in the question.
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For example, a company A disburse the salaries of it’s employees through Bank X. At some point Bank X decides to pay incentive to company A’s employees because they are getting their salary through the bank X. What will be the status of that incentive?
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There is nothing wrong in any such incentive.
The primary objection here would not be on the incentive but rather on sharing income of the bank which is primarily earned through Riba – Therefore, whether one earns profit through bank savings account or through a Bank incentive, the objection remains intact.
Please refer to the following response by Ghamidi Sahab:
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