Fatwa #11202 October 2000Pakistan

If one receives money on retirement from Goverment and he is more than of 60 years, and dont have any member alive. Can such person invest money in saving schemes, which pay fix intrest.

Question

Kindly consider the case where such person dont have any option to invest. No relatives are there and consider the present unavoiadeable environment.

Answer

It is not permissible to invest monies in conventional backing schemes which
pay interest. You should invest your monies in avenues acceptable in Shari'
ah. Such avenues are easily available in South Africa.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai
FATWA DEPT.

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