What is the sharia ruling on investments in bank and postal fixed deposit schemes?

What is the sharia ruling on investments in bank fixed deposits schemes and postal fixed deposit schemes.

Answer:

(Fatwa: 1468/1223=L/1429)

As per the Shariah, it is unlawful and haram to invest in the fixed deposit scheme and postal fixed deposit scheme.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

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This answer was collected from the official ifta website of Darul Uloom Deoband in India.

Tags: Bank, haraam, investment, sharia, Shariah

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