Thursday | 22 April 2021 | 10 Ramadhan 1442
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Fatwa Answer

Question ID: 1295 Category: Dealings and Transactions
Saving Certificates

Asalamoalikum Hazrat,

I have a question about saving certificates. Is it permissible to invest or buy such certificates? Background: My wife's father is a banker and he had multiple saving certificates. My wife is insisting to buy those certificates saying that "since her father did that, it is allowed to buy it". I am afraid that it is sood and prohibited in Islam.

Please guide.

Bilal

بسم اللہ الرحمن الرحیم

الجواب وباللہ التوفیق

The Savings Certificate Scheme is an interest-based scheme and the profit from it is interest.  Therefore, it is not permissible to purchase and invest in these certificates.

قولہ تعالیٰ: أحل  البیع وحرم الربوا ۔(البقرہ: ۲۷۵)

قولہ تعالیٰ: ’’ يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِنْ كُنْتُمْ مُؤْمِنِينَ ‘‘(البقرہ: ۲۷۸)

لعن رسول اللہ صلی اللہ علیہ وسلم آکل الربوا وموکلہ وکاتبہ وشاھدیا وقال ہم سواء(مسلم: ۲؍۲۷)(مستفاد: فتاویٰ عثمانی: ۳؍۱۷۳، ۲۶۷)

فقط واللہ اعلم بالصواب

Question ID: 1295 Category: Dealings and Transactions