The Ruling on Interest-Based Savings Money
Machine translationRead the Arabic original
Question:
I am an employee working at a company, and when I was retired, I received my rights, which included savings amounting to one hundred thousand riyals. What should I do with it? Should I give it in charity, or give it to the needy, or give it to one of my relatives who is in need?
Answer:
This savings is riba (usury or interest); it is a riba system. If you take anything from it, you must get rid of it by giving it to a needy person, or putting it in a charitable project, or giving it to a charitable organization. The important thing is that it is not permissible for you, because the savings system is a riba system. Yes.
I am an employee working at a company, and when I was retired, I received my rights, which included savings amounting to one hundred thousand riyals. What should I do with it? Should I give it in charity, or give it to the needy, or give it to one of my relatives who is in need?
Answer:
This savings is riba (usury or interest); it is a riba system. If you take anything from it, you must get rid of it by giving it to a needy person, or putting it in a charitable project, or giving it to a charitable organization. The important thing is that it is not permissible for you, because the savings system is a riba system. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم المال الذي يأخذه الموظف بعد تقاعده من الإدخار؟ وماذا يفعل به؟ #فتاوى الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.