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Can I invest in a govt scheme with 6x returns after 60?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
Assalamu alaikum, If Govt.(India) plans a scheme for investment that pay some money 6000 to 70000 per year and get a return six times after age 60 and some part in pension. Can we invest in such type of scheme .

Answer

(Fatwa: 2091/H=617/th=1431)

This scheme is interest based; hence, it is haram.

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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