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: FtawySummary from Ftawy's records · added here 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.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/52091
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 52091
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy