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Is the Government Contribution to My Education Savings Account Considered Interest?

Answered as per Hanafi Fiqh by Muftionline.co.za

Q: I have a question I have a education saving account at the bank basically we use to put money by our self every month for education and on top of that the government puts 2.5% with out us asking for it. Is this considered interest? Please I am very worried.

Bismillaah

A: If the 2.5 percent that the government gives is pure assistance then it is permissible provided the bank is not a government bank.

And Allah Ta’ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)


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This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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