CAN A MUSLIM HAVE AN ACCOUNT IN AN INTEREST BASED BANK? BY DR ZAKIR NAIK ACTS PERMITTED DURING FASTING : EPISODE 20 RAMADHAAN - A DATE WITH DR ZAKIR Video Code: RDD_EP 20_4
My life was like hell when I was intentionally taking interest for 5 years....since I stopped taking it and gave all the interest I got from Bank to charity and switched to Non interest bank....I am now normal and at peace....my issues and mental problems have gone. Allhamdulilah
I agree with everything he said, but even if you have a standard account in a riba bank that does not pay you interest, they will still get riba by making loans to other people (fractionnal reserve banking). By keeping your savings in there, you are encouraging them.
yes even using mobile sims they offer you loans in sims and get an interest when you load new balance. But we do not use loan service in sim but use for calling and other services in sim card. likewise if using current account without getting involve in interest I think is not a sin. Jazak Allah.
I agree with his opinion, n Alhamdulillah now there is an option of no interest for saving account in many of the banks in India also. So we can opt for that.
Sameena Shaikh it's not about taking interest from saving accounts, otherwise encouraging haram business and involving to Interest by depositing your money. Even without interest.
We kept this as a hard cash but one day a man informed that your hard cash is useless has no more worth on it until you deposit it in the bank from that day we started with banking activities.... From India
Time Lapse but the very same money of yours is lended as interest based loans to others. So you are still involved in the sin of riba if you opt for non-interest bearing accounts in a bank which lends money on interest.
abdur rahman the money is lent by banks who benefit from interest. Account holders are mostly ignorant of this process and, if using a checking account, gain no interest benefit.
@@shazzadhasan3970 yeah I deleted my comment now because I found out the s&p 500 is haram as 60% of the company’s use interest however there are halal alternatives
Question is keeping inflation in mind my 10 RS becomes 9 RS after 1 hr so bank gives 5 lercent interest which u did not ask and it balances inflation..if we don't take it my 10 ra will become 1 RS after 10 yes..what to do
Currency itself is illegal orphan of interest. The current global economic financial model is flawed. You can not cherry pick as per your comfort. Majority of Islamic scholars unfortunately don’t understand Riba but they wrongly assume currency on currency is interest. Majority of such scholars are unknowingly involved declaring haram those thing which they don’t understand at all. What a shame!!! Protecting time value of money is allowed and not haram...
Comparing Interest Based Bank to drug dealers is not correct, there are some situation where the muslims afraid that keeping a lot of money in their house isn't save, so AFAIK that's why some scholars allows them to put their money in the bank, just for necessities, not for supporting riba.
Asalamualikum alikum, i have a question regarding bank interest, I'm doing job nd getting money directly in my bank account. Could you please tell me vot should i do with that bank interest cox i don't want to keep it, even i tried to convert my saving to current account but bank didn't allow to do that... Nd if want to do that then you need to settle your business, but I'm employee
If the hard cash is kept in a locker, after ,say 10 years, the same cash may not be worthy enough its buying capacity 10 years before due to inflation. What is the answer for such a question?
I urge all indian Muslims to Close your bank accounts immediately & dont involve in ribah . Otherwise Alla will wage war against . Spread message to all ummah brother pls
But in today's world we cannot live without having bank account,..... are salaries are credited into it.... most of the work involving money is absolutely related to the bank
There's risk in keeping money in bank, because if it goes bankrupt, in Bangladesh I will not get those money back from bank. Under this circumstances is bank interest haram?
Mujhe samajh nahi araha mai kya karun, mere parents bank ke sood (interest) ke chakkar mei parh gaye hain. Mujhe andaza hai ke islam kya kehta hai interest ke baare mei lekin mere ghar wale nahi samajh rahe. Please pray for me and my family.
Brother in India opening of Current Account is need more higher deposit than Saving Accounts. Wether Current account needs minimum ₹10000 to open an account Saving needs only ₹1000/- or less. I feel that I can Donate the Interest money is much good it will help the people but whom we can??
are you 100 % sure you are explaining riba rightly !!! most of people misunderstood riba. our hard earned money will lose their value with passage of time and who will be responsible for getting low value for money !
Unfortunately there is no Islamic banking in the West but there are interest free bank accounts. You can also write to your bank and request them to not pay you any interest on your savings.
Today it's money laundering a fashion and it's not a crime until and unless you get caught. We have A member of parliament in malaysia says ' you are not a thief until unless you are caught' And zakir is now A Secured Resident of Malaysia, and he is demanding a fair trial before even him being produced in the Indian Courts. If innocent face it and clear the charges. Here he is talking...
Well in our country there is no bank with no interest. So what do we do? If its large amount of money then we can't keep it at home! Also we want to save money for future so there's thing called DPS and DPS always comes with interest. So what do we do?
depositing money in current account will be the same and encourage to make banks to make more profit. i agree with locker option however the govt wants proof of your financial transaction what to do then
What about inflation your money today isn't gonna be the same value in the next 10 years. When your money is decreasing in value without spending explain that.
I was thinking exactly the same as current account terms and conditions say they will charge interest if you go overdrawn so when you sign terms and conditions you agree to riba / interest and the bank your using service from also deals in interest.
@@tamnadvardis7039 it does not matter, they are still utilizing your money. the fact if you want to avoid RIBA then you have to completely avoid banking, which is not possible. Unfortunately there is no way around
It sounds like gambling (maysir). It may be fun, but you will find after a while you are losing money. That is the purpose of these games, to make money for those who set them up online.
Absolutely incorrect and I disagree with him. Currency itself is illegal orphan of interest. The current global economic financial model is flawed. You can not cherry pick as per your comfort. Majority of Islamic scholars unfortunately don’t understand Riba but they wrongly assume currency on currency is interest. Majority of such scholars are unknowingly involved declaring haram those thing which they don’t understand at all. What a shame!!!
Doctor, im an engineer living in Australia there is no bank that does not work without interest only non interest bank accounts. is a non interest bank account halal if there is no other oiption if I cant ask for cash in an engineering job?
Even after you get interest, you are still loosing money in the bank because of inflation ! These relegious books should either be updated or not taken that seriously!
Dear Arif Mhmd, please note that he mentioned that you better invest in real estate, stocks, equity, venture capital etc etc,, that is better for you as the return is much more higher than 2% - you might be in countries with higher deposit rate, but the inflation rate is higher in that country too, the rate of bank interest is always lower than inflation to secure risk.
@@awesomebrotherhood7698 keeping money in bank is very different from investing in stocks, real estate, equity etc, etc,. because we can easily take and use the money from our bank account whenever we want, but it is very difficult if we invest in stocks, real estate, enquity etc, and also not always we are gauranteed to not lose our money if we invest in stocks, real estate, equity etc.,....and also most of the people are not educated enough to invest in stocks, equity etc,. and usually it requires huge amount of money to invest is real estate but not in the case of banks......
Arif Mhmd if you answered this to your own question, then your questions is invalidated by itself. Because no stable country offer interested rate more than inflation; plus interest received by the depositor is subjected to TDS hence you don’t receive as much as capital gain exemptions is many countries with lower tax brackets for those. With almost close to zero interest rates in most stable countries, there is little to no incentives for people to increase wealth with feeble 1-3% where as capital market has shown more than 20% return yearly basis for the last 5 years (International top capital markets averaged). If that’s true then you should not be keeping so much in the bank, that cash is sitting with massive opportunity cost. Best you invest as there is also zakat exemptions on long term investments like real estate, equity markets and starting your own business. You keep cash in the bank - in normal cases You say keep $100 and you get 5% interested 2.5% had to be paid to zakat as its liquid asset where Islam obliged people to pay, Then they will cut taxes So you get the gist. Hope that answers your question from my Primitive mind - I am declare I do not know a lot but I am trying to help one another. Good day
It is very sad that you need to ask such a question! I hope you can hold your head proudly, work and earn money, and participate in society like anyone else.
Brothers and sisters please answer my question please. What if I have a debit card in a bank, and lets says it costs me 1$ of upkeep per month, is that harram? Becuase its not interest, its what you need to pay for that service? Right?
you are using bank services like the debit card itself the computers that keep data your transactions record your deposit records and someone need to pay for that and banks charge for services and you will have to pay for that service and if you get angry with the bank if there server is down or atm is down you are on right because you paid for a product which is debit card and its atm machine and in return bank hast to give service its simple as buying and selling same as you pay for internet or phone even they have service charges
sir i have a question suppose u person give a person some money and he use it in his bussiness and he pay u some money monthly u also help him in his buusiness so the money u got is it haram or halal is it shud?
I dunno if someone will reply me or not. But i have a question there are some Islamic Banks. And they say it is Riba free.. But there is interest in savings account. So is it halal or Haram?
Tum chutiyo ka kuch nahi ho sakta ..gadhe ke bacche robot jaise ek feeded software k according act krte ho..chutiyo tumhare religion k bhar bhi ek duniya hai jihadiyo
Hichman Stephen If u will use the particular money in business that's good..... but interest is totally harm (prohibited) It's simple u gave 1000 note and another year ur saying him to give me 2000 note.... it's totally harm....
By modern standards, almost everyone was dirt-poor. Only the rich, a tiny minority, had any money to lend. Any money lending, then, would involve rich people lending to their poor neighbors, probably their kin, for a basic need like food. . . .People hid extra money. So while a person might be entitled to have his money returned to him, it seemed uncharitable to charge a poor person for temporarily using money that would otherwise just be collecting dust. . . .And charging huge interest rates that couldn’t be repaid would add insult to injury, since it would exploit a person’s bad fortune and ignorance. Thus, given the historical context and the belief that money was sterile, the ban on usury made a lot of sense. (Money, Greed, and God, 140).
Total rubbish. The banks' interest rate in a savings account is about the same as inflation, so most of the time it will be a no win no lose situation.
With all do respect, I disagree. He didn't give good examples nor was he able to give a solution. No bank would get involved in a drug deal. But I feel that intrest should go to those who Are less fortunate and in poverty, a lot of refugees out there looking for a blanket to shelter them from the cold. At the end of the day if I'm not getting rewarded for whichever choice I choose either with an interest bank or without an intrest Bank I would choose the one that would benefit someone else. Probably I won't get any rewards from Allah however I know for a fact a hungry child we'll be able to afford a meal that night.
Dear brother islaam as such is not about how you feel or how anyone else feel. Islaam is about what Allah has revealed to us in the Quran, according to the explanation of prophet Muhammad peace be upon him., And the understanding of his companions, the tabeein and tabir tabeiin... And Allah knows best and may the Almighty guide us all.
he says dnt have acc in banks, except islamic bank.. or if u dnt hv option then u can open current acc nt savings.. savings acc interest is again a haram.. dr. zakir naik says.. thats wat i understood
he says dnt have acc in banks, except islamic bank.. or if u dnt hv option then u can open current acc nt savings.. savings acc interest is again a haram.. dr. zakir naik says.. thats wat i understood
he says dnt have acc in banks, except islamic bank.. or if u dnt hv option then u can open current acc nt savings.. savings acc interest is again a haram.. dr. zakir naik says.. thats wat i understood
I don't have this much knowledge to disagree with him bt in my opinion conventional and islami banking systems are same. Islamic banking system is just to play with mind set of a particular class otherwise both deal with central bank who deal with conventional and Islamic at the same time. I can agree on current account since a non Islamic or Islamic country can't provide you the Islamic way out to keep your money safe.
You dont need much knowledge. Just think for a minute - is riba as charged by uncrupulous moneylenders from the time of the prophet on poor debtors who were disposessed and sold into slavery the same as interest in modern banks? The answer is no.
why crazy! definitely hard but not impossible. if u fear poverty, u shouldn’t be worried at all when Allah is our provider. if u fear poverty then listen in hereafter, poor people will go to heaven 500 years ago before the rich. dont run after worldly fame, luxury, reputation, status - all are lie and meaningless when u'll be returned all alone to Allah.
I'm referring to the general standard of living 500 years ago except for a small elite. Telling the poor not to fear poverty (while the rulers and the elite take what they want) sounds like a recipe for exploitation to me. Its the way the merchant princes/priests and sultans of the middle ages ruled. in any case I dont agree with Naik about banking. Interest in modern regulated financial markets is not exploitive and is not riba.
@@roberthannah7983 riba interest is not Dr.Naik's theory. He is simply preaching what God ordered us. If u have problem with God's opinion, that's ur problem. And the way u described how the mughals ruled in past, i know where u learnt those from. Nothing new to us. May Allah give all hidayah. Ameen.
Are you sure with the numbers??? 78 or 88? you seem to be a genius at watching over the financial stats of other persons. Or we can say you are only good at stigmatizing others.. lol Go get urself a life Mr. NobOdy!
Saddam Ansari if he has current accounts he is safe from interest. You know any specifics about his accounts? Or just jumping to conclusions because its mainstream?
How many Muslims out of 18cr in India will reject taking interest from bank accounts ?? Actually no moulvi or moulana educate Muslims to reject interest from bank accounts , no Moulvi opposed hajj subsidy being given to Muslims since more dan 50 yrs but they opposed triple talaq bill swiftly !! Wat an irony peacefuls have Someone said - " muslims r God's chosen people ". I didn't know God's chosen people show double standards
