Q: On a buy to let ISA, for the amount saved in the ISA, the bank provides variable interest return which is haram however, as an incentive to save, the government provides £50 bonus for every £200 deposited into the account each month. Is this bonus something we can take?
A: The benefit accruing from a loan will amount to interest. According to the shar`ee definition the deposits made into a bank account are counted as loans.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Ebrahim Salejee (Isipingo Beach)