Transactions & Dealings >> Interest & Insurance
Question ID: 13664Country: Kenya
Answer ID: 13664Posted on: Aug 31, 2020
Bismillah hir-Rahman nir-Rahim !
(Fatwa: 943/943=M/1430)
It is unlawful. The interest amount should be distributed in the poor without any intention of reward:
لأن سبیل الکسب الخبیث التصدق (شامي)
Allah (Subhana Wa Ta'ala) knows Best
Darul Ifta,
Darul Uloom Deoband, India
Since the income tax system in india has give relaxation for income invested in mutual fund or others, could you please help me with the investor where i can invest my money to save Income tax.
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