Riba/Interest
According to Surah Al 'Imran, verses 13--132 in the Quran:
"O believers, take not doubled and redoubled interest, and fear God so that you may prosper."
The Arabic word 'riba' can be roughly translated as the concept of exceeding, or increasing. It is very commonly translated to mean 'usury' or 'interest' and refers to unequal exchanges or charges and fees for borrowing that can result in the payment of interest. At its very core, riba refers to exploitative gains in wealth and money.
The unanimous opinion of Islamic scholars is that Islamic Sharia law prohibits the receipt or payment of interest. This includes:
any interest received in a bank accountinterest on any form of lending or borrowingloans taken for property purchases with an interest elementloans taken out for educational courses with an interest element
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If a Muslim is forced to put his money in the bank, because he cannot find any other means of keeping his money safe apart from putting it in the bank, then there is no sin in that, in sha Allaah, subject to two conditions:
1. That he does not take any interest in return
2. That the bank does not deal only with interest, rather it should have some other activities that are permissible in which it invests the money deposited
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All I'd like to say is that Allah knows your intention of committing a sin. He is the Best to decide if He will allow the money to grow you or destroy you. So be careful.
Allahumma Khair.
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