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IslamQA: Is it permitted to use interest to save for marriage or college?

Salam! We have been going through hard circumstances since I'm born. It has always been hard for us to meet our ends. My mum has saved some amount of money for my marriage now, she wants to fixed deposit it in the bank. So that until I get married she can afford my brother's university fees with the interest she would get on it. Would that be right? Cux there's no other mean by which my brother can get his education 🙁

Alaikumassalam wa rahmatullah,

May Allah ease your circumstances. Unfortunately interest is never OK to earn, Islam considers it immoral, it’s similar to stealing. She can instead invest in halal savings accounts such as those offered by Al Rayan Bank in the UK. She can also invest in the Azzad Wise Capital Fund which earns money from Islamic bonds.

And God knows best.
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