I am PhD scholar at Australian university, At the time of app, I had to show a bank statement having a certain amount of fee and living expenses for atleast one year in my account. I showed through bank and bank asked me to open savings account. Interest is involved in savings account. So it means what I did was wrong? Or student are allowed to go for studies and take loans?
I am PhD scholar at Australian university, At the time of app, I had to show a bank statement having a certain amount of fee and living expenses for atleast one year in my account. I showed through bank and bank asked me to open savings account. Interest is involved in savings account. So it means what I did was wrong? Or student are allowed to go for studies and take loans?
17Apr
ANSWER:
If you are asking about the interest the bank is adding to your account, if there is no other alternative such as current account without interest, this is permissible but you must not use this interest and must take it and give it to poor and needy muslims to cleanse your wealth.
Taking interest based loans is one of the major 7 sins in Islam.
I am PhD scholar at Australian university, At the time of app, I had to show a bank statement having a certain amount of fee and living expenses for atleast one year in my account. I showed through bank and bank asked me to open savings account. Interest is involved in savings account. So it means what I did was wrong? Or student are allowed to go for studies and take loans?