Pearl of Wisdom

Piety is the master of action. He who does not have piety to prevent him from an act of disobedience to Allah Almighty when left with it, Allah will not care about any of his other actions. This means that it [piety] is fear of Allah, both in secret and in public, economizing both in poverty and wealth, and fairness both in [times of] contentment and discontentment.'

Prophet Muhammad al-Mustafa [sawa]
Kanz al-'Ummal, no. 7299

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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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