As Muslims we're not allowed to collect interest, so these 5% savings accounts are off limits.

What do you guys do with your cash when you're looking for liquidity and low risk?

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Dude I revised my beliefs and use both HYSA and the stock market. These are modern constructs which are regulated. They do not harm anyone.

Interest was prohibited because it was exploitative in the days of Prophet Muhammad.

likefunny

I think you know what it means unfortunately

Liquidity and low risk and profits that are not interest… I’d be very surprised if there’s any investment opportunities that meet all 3 criteria. There probably are but I’m guessing it’s not very profitable or else everyone would be doing it 🙂

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The world changes every day. It will never be exactly as it is right now. Over the centuries, society changes. The truth of Allah never changes, but it's application to the lives of those hearing that truth do change. It is still forbidden to be a loan shark that preys on vulnerable people. It is forbidden to put yourself in debt and obligation to those people as well. It is not forbidden to take reasonable risks for modest rewards. This should not be considered "gambling" or "greed." It is a job. It's just like a construction worker who does a lot of physical labor and as a result obtains a physically attractive physique. He did not achieve that out of vanity but as a result of using the skills, talents and abilities Allah gave him to support his family and benefit his community.

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