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Are interest and income from mutual fund companies permissible sources of income for older people?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
Getting interest from bank as only sole income for older people permissible or not and income from mutual fund company is permissible or not?

Answer

(Fatwa: 380/313/B=1433)

Islam has declared interest haram till the Day of Judgment. The ruling is same for young and old ones. We do not know the detail of company’s Mutual Fund and its income; hence we cannot say anything about its permissibility and non-permissibility.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

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

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