Taking interest free loans…sort of

Taking interest free loans…sort ofCategory: FinanceTaking interest free loans…sort of
Nabeel asked 2 years ago

Ok first of all I understand it is Haram in the sense where someone is in debt and they are being charged interested to be put further into debt. However my concern is when someone has financial freedom, is it permissible to use an interest savings account to generate an income for yourself. You can use it as financial assistant, charity or whatever, it would make more sense that in this sense it is halal as you are only generating money and not putting anyone in debt.