Darul Iftaa Mahmudiyyah

Medical insurance scheme with interest

· 8 Rabiʻ I 1437 AH1 min readFatwa 34679English

Question

I have a question regarding health saving account offered by my company as a part of medical insurance. Company is putting some money in this account for only medical use but the issue is account type. Account is saving account and will earn the interest. Though I am trying to spend the money before end of month to save for any interest but still sometimes I can see few dollars or pennies as interest. What do you suggest?

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Your question is not clear. Do you also contribute to the savings account? If so, is it compulsory or voluntary? Who will be the account holder?

And Allah Ta’āla Knows Best

Bilal Issak

Student Darul Iftaa
Leicester, England, UK

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Bilal Issak
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/34679
Fatawa SA: https://fatawa.co.za/fatwa/askimam-34679

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