Pearl of Wisdom

Umar b. al-Khattab was making his way through Madina at night when he heard a man singing in his home. He jumped over the fence and said, ?O Enemy of Allah! Did you think that Allah would conceal you while you disobey Him?!' The man retorted, 'What about you, O Commander of the faithful? Do not hasten to Punish me, for if I disobeyed Allah once, you did so three times. He has said, 'Do not spy,' and you did spy [on me]. He also said, 'Enter the homes from their doors,' but you jumped over my fence and without my permission. And Allah, the Exalted, says, 'Do not enter homes that are not yours until you are invited in and until you greet their owners.' 'Umar said, 'Is there any good in you, if I decide to pardon you?' The man said, 'Yes.' Then 'Umar pardoned him and departed.'

Umar ibn al-Khattab
Ibid. no. 8827

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Question : #115 Category: Business / Investment
Subject: money in high interest account
Question: Can I put my money in a high interest bank account?
Answer: Bismillah

Salaam Alaikum. Inshallah all is well. Giving interest to others is not permitted in Islam regardless of who the interest is paid to. However, there is a case where taking interest from others, which may be the case in question, is allowed. If we are to take interest from other fellow Muslims, it will be forbidden. This means, if the bank you are opening a high interest bank account in is owned by Muslims, entirely or partially, this will not be allowed. However, if you are taking interest from non-Muslims, it is allowed. This means, if the bank which you desire to open an account in is own only by non-Muslims, it will be allowed to look for high interest accounts.

Fee Amanillah
Follow Up
Is that with all schools of thought?
Follow Up Response
Great journey to name this blog. I love this name immensely. Funny, the thing that was the toughest for me, as well, was naming my blog. Took forever. And eve23#8r&0; Good luck on your journey to CA!

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