FatwaFederal TerritoriesTransactions & Finance
Faedah Simpanan Tetap Di Bank
What should be done with the interest paid by a bank on a fixed deposit?
Short answer
The Federal Territory Syariah Legal Consultative Committee resolved on 23 April 1980 that interest money from a bank fixed deposit must be handed over to the Baitulmal.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Federal Territories Mufti Office
- Status
- Fatwa committee decision
- Series
- Keputusan Fatwa Wilayah Persekutuan (e-Fatwa)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
The Federal Territory Syariah Legal Consultative Committee resolved on 23 April 1980 that interest money from a bank fixed deposit must be handed over to the Baitulmal. The money is to be placed in the Baitulmal for public benefit.
Written in our own words from the original fatwa — check the source before acting on it.
Wang (faedah) yang diberikan oleh bank kerana simpanan tetap (fixed deposit) hendaklah diserahkan dan dimasukkan ke dalam Baitulmal untuk maslahah umum.
Read the full fatwa on the Federal Territories website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Federal Territories Mufti Office. “Faedah Simpanan Tetap Di Bank”, date not stated. https://efatwa.muftiwp.gov.my/fatwa/3.%20FAEDAH%20SIMPANAN%20TETAP%20DI%20BANK%20%2810%29. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/what-to-do-with-fixed-deposit-interest/