Pearl of Wisdom

'A man from the family of the Prophet (SAWA) had passed away and the women were gathered around crying for him when 'Umar stood up and prohibited them from doing so, and told them to go away from there. The Prophet (SAWA) then said, 'Leave them O 'Umar, for verily the eye feels teary [at the moment], the heart is afflicted and the pain of the incident is still fresh.'

Abu Hurairah
Sunan al-Nasa'i, p. 4, no. 19

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Question : #438 Category: Business / Investment
Subject: Interest bank accounts
Question: If I know that the bank will give me interest even without stipulating the conditions, is it permissible for me to deposit in a savings account that takes the form of a term-deposit?
Answer: Yes, it is permissible, as long as you do not stipulate the conditions of interest.

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