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The question

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?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

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

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Source platform
Ftawy
Original fatwa ID
52091
Imported
Translation status
Source text, unreviewed
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