My uncle worked in Dubai for over 30 years, he was physically challenged he cannot do his regular work very quickly. After his completion of work in Dubai he received his settlement amount around 5 lakhs. Whether he can deposit his money in bank for getting interest and use interest money for his living? Please advice. Please note my uncle has two daughters and one son who are still in college, one daughter is earning for her livelihood.
بسم الله الرحمن الرحيم
(Fatwa: 230/163/D=3/1438)
It is haram to receive interest by depositing the amount in the bank and it is makrooh to deposit with this intention. However, if it is deposited with the intention and purpose of security then it shall be lawful to deposit but it shall be haram to consume the interest for himself. The amount of interest should be given in charity to the poor and needy ones without the intention of reward.
If your uncle is handicapped, he may invest money in some business if it is possible with the advice of some pious man.
Allah knows Best!
Darul Ifta,
Darul Uloom Deoband