Darul Iftaa Mahmudiyyah

If one receives money on retirement from Goverment and he is more than of 60 years, and dont have any member alive. Can such person invest money in saving schemes, which pay fix intrest.

· 5 Rajab 1421 AH1 min readFatwa 1120English

Question

Kindly consider the case where such person dont have any option to invest. No relatives are there and consider the present unavoiadeable environment.

Answer

It is not permissible to invest monies in conventional backing schemes which pay interest. You should invest your monies in avenues acceptable in Shari' ah. Such avenues are easily available in South Africa.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai
FATWA DEPT.

Answered by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/1120
Fatawa SA: https://fatawa.co.za/fatwa/askimam-1120

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