Ask Qul - Business / Investment - Interest bank accounts

Pearl of Wisdom

when his father asked him the meaning of ignorance, said, 'It is hastening to snatch up an opportunity before having made oneself capable [of fulfilling it], and it is to refuse to answer.'

Imam Hasan ibn Ali al-Mujtaba [as]

Ma'anial-Akhbar, p. 401, no. 62

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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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