Pearl of Wisdom

when he was asked about Allah's verse in the Qur'an: and do not be of the mind to give the bad part of it , said, 'When people became Muslims, they had earnings from usury and from unlawful dealings, and a man would mix it in with his money and donate from it. So, Allah prohibited them from doing so, and charity is only correct [when given] out of pure earnings.'

Imam Muhammad ibn Ali al-Baqir [as]
Tafsir al-'Ayyashi, v. 1, p. 149, no. 492

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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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