21 Muharram 1441

Can I open a savings account and can I use the interest money to pay my taxes?

By Admin
In Riba
Jul 19th, 2019
0 Comments
349 Views

ANSWER:

If there are no Islamic banks in your city and if the conventional banks do not have the option of current account, in this case you can open a savings account. 

However the interest money is haram and you must dispose this off to poor and needy Muslims in order to cleanse your wealth, without anticipating any reward for it. It is totally prohibited to benefit from it by giving taxes or in any other way and you cannot buy gifts for your family and friends with it.

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