Is the 8% annual interest on postal savings accounts, opened for children as a form of saving, considered forbidden usury (riba), especially since these banks are state-owned and not private?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
Usury is forbidden, whether it comes from the state or from elsewhere. Indeed, it is worse when it comes from the state. If the state wishes to help its citizens, it should feed them with what is lawful, not with usury.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/52091
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- Original fatwa ID
- 52091
- Imported
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