Bank,post & mutualfund interest

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Bank,post & mutualfund interest

Unread postby Fateh on Wed Mar 28, 2012 6:45 am

I keen to know about bank ,post & mutual fund interests are haram or halal at per the Qur'an
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Re: Bank,post & mutualfund interest

Unread postby anajmi on Wed Mar 28, 2012 10:22 am

I don't think Quran classifies interest. It says interest is haraam. People asked the prophet (saw) that it is the same as business where you produce something for x and sell it for x+y. Interest is the same they said. You give x and then ask for x+y. Allah says in the Quran that making money through business is allowed and interest is prohibited.
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Re: Bank,post & mutualfund interest

Unread postby Fateh on Sat Mar 31, 2012 7:17 am

anajmi wrote:I don't think Quran classifies interest. It says interest is haraam. People asked the prophet (saw) that it is the same as business where you produce something for x and sell it for x+y. Interest is the same they said. You give x and then ask for x+y. Allah says in the Quran that making money through business is allowed and interest is prohibited.

Thanks Bro,So may we assume that bank,post & mutual funds are one type of business?
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Re: Bank,post & mutualfund interest

Unread postby anajmi on Sat Mar 31, 2012 10:30 am

Are they based on interest?
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