Dr. Monzer Kahf, a prominent economist and counselor states: “Accepting such interest is not acceptable. Interest from a saving account is the same Riba that is mentioned in the Qur’an. It is true that the bank uses that money to give loans to its customers also on interest basis, the bank’s income from lending is also Haram and it is not profit, even if it is given this name, because its reality is interest on loans given by the bank.”
Accepting Interest from Savings Account with a Bank
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