How can I calculate zakath on deposited money in Islamic bank?
You must pay alms via the latest total amount of money. So, you have to give alms the fortieth of both the capital money and its profit.
- Muslims working abroad deposit their money in the banks there. When they withdraw this money, they are given some amount of interest. Some do not receive this money considering it illicit whereas some receive the money saying that to receive interest from
- It is religiously permissible to draw interest in Dar-ul Harb. How should Muslims who live in those lands act?
- Is it permitted to deposit money in the bank without interest and to keep money in demand deposit in the bank?
- Is it permissible to buy and sell things interest-free using credit cards? If yes, are there things to take care of? If yes, what are they?
- Is the money that a person earns by working in a bank haram? Can his children spend the earning of that person?