FatwaPenangTransactions & Finance
FAEDAH SIMPANAN TETAP
Is it permissible to receive interest from a fixed deposit?
Short answer
The Penang Syariah Committee decided that receiving interest money from a fixed deposit is permissible.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Penang State Mufti Department
- Date
- Status
- Fatwa committee decision
- Series
- Keputusan Fatwa Negeri Pulau Pinang (e-Fatwa)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Penang Syariah Committee decided that receiving interest money from a fixed deposit is permissible. The permission is conditional on the money being used for public benefit (maslahah umum). The decision was made on 10 January 1979.
Written in our own words from the original fatwa — check the source before acting on it.
Jawatankuasa Syariah memutuskan diharuskan penerimaan wang faedah dari Simpanan Tetap dengan syarat wang itu digunakan bagi tujuan maslahah umum.
Read the full fatwa on the Penang website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Penang State Mufti Department. “FAEDAH SIMPANAN TETAP”, 10 January 1979. http://efatwa.penang.gov.my/fatwa_details.php?fatwaid=1018. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/receiving-fixed-deposit-interest-ruling/