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Is is permissible to make use of FNB Million-a-Month Savings Account?

Answered as per Hanafi Fiqh by Darulihsan.com

Ref:tij049/07

November 2007

Q: Is it permissible to make use of the FNB Million-a-Month Savings Account?

A:

We have researched the issue on hand (i.e. The FNB Million-a-Month Savings Account) as well as an article written on this subject by Mufti Taqi Uthmani Saheb and our considered ruling is that the scheme in the current form is not in conformity with the rules of the Shariah. It is thus not permissible to participate in this scheme.

Mufti Shafiq Jakhura
Iftaa Department, Darul Ihsan Islamic Services Centre
 
I concur with the answer:
Mufti Zubair Bayat

Ameer, Darul Ihsan Islamic Services Centre

Original Source Link

This answer was collected from DarulIhsan.com. It’s the official website of Darul Ihsan, which is an Islamic organisation (PBO) based in Durban, South Africa.

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