Bank Interests in Pakistan

[Solo_Ta72]

Assalamualaikum

So I needed to ask something for a while now. Currently Pakistan is going through tough economic conditions. People aren't buying property and they avoid investing money because of Inflation rate. In these conditions Pakistanis Bank announced something, they didn't announce it as its an old scheme they had but became common because of current situations, so they provide Interests, like 21% or 28% in some cases: for example if you have some 100000 pkr in your account you'll be provided with an interest of 21% of that amount that is 21000 but this interest can go upto 25000 sometimes on the same 100000 pkr, whay i am trying to say is the interest might cross 21000pkr on 100000 Pkr, but its very rare that it will go below 21000pkr

Is this type interest haram or halal. Some scholars told my fathers its halal as the interest is not fixed so he also created a bank account in a bank with highest interest rate and transfered all his money to it

Now his intentions are not to make more money but its becoming hard to survive in Pakistan now adays so to support family needs he had to do it....

So is it haram or halal

JazakAllah Khair 

[Ashvazdanghe]

On 10/3/2023 at 12:15 AM, Solo_Ta72 said:

Is this type interest haram or halal. Some scholars told my fathers its halal as the interest is not fixed so he also created a bank account in a bank with highest interest rate and transfered all his money to it

Now his intentions are not to make more money but its becoming hard to survive in Pakistan now adays so to support family needs he had to do it....

So is it haram or halal

Salam

Question: The ruling on receiving temporary deposit interest if the rate of inflation is higher or lower.

Question: In Turkey, economic inflation reaches seventy percent per year. Considering this inflation and the decline in the value of the Turkish lira, if a person puts some money in a government bank as a temporary deposit, the bank will give sixty percent interest according to its regulations.does taking  this profit, if it's lesser than inflation , in case of  devaluation of money permissible? What if the profit is more than the inflation?

According to Ayatollah Makraim Shirazi

Answer: There is no problem if it is not an Islamic bank; And if it is an Islamic bank and the inflation is so severe that it is calculated in people's daily long-term transactions, there is no problem in taking the amount of inflation.

https://hadana.ir/حکم-سود-سپرده‏-گذاری-بانک/