Islam forbids muslims to give and take interest. Does that include interest on savings and loans from modern banking? What are the alternatives for muslims who are interested to save for a better tomorow especially in countries where there are no Islamic Banking system like Nigeria.?
2006-11-29 07:07:49 · 4 answers · asked by saidusalihu 1 in Society & Culture ➔ Religion & Spirituality
Islam forbids any type of interest.If you have no Islamic banking in your country ask about how much interest you have on your money and give the interest to charity.
2006-11-29 07:10:47 · answer #1 · answered by Sherzade 5 · 0⤊ 0⤋
I know a lot of people who open two interest-free checking accounts. One is used like a traditional account, and the other like a savings account.
2006-11-29 07:22:35 · answer #2 · answered by frenchy 3 · 0⤊ 0⤋
You put it under your mattress and hope the house doesn't burn down.
2006-11-29 07:10:53 · answer #3 · answered by Anonymous · 0⤊ 2⤋
see http://islamtoday.com
http://islamyesterday.com
http://islamonline.com
2006-11-29 07:11:14 · answer #4 · answered by Anonymous · 1⤊ 0⤋