Keeping the Muslim Fund’s money in a bank or post office

Question

Question: A few young men of the Banjharpur area, Cuttack district, in the light of the constructive programme published by Jamiat Ulama-i-Hind and on the model of the Muslim Fund of Deoband (an interest-free Muslim loan society), have established a Muslim Fund. Since there is at present no means of safekeeping all the entrusted sums (amana) deposited in it, the members of the Muslim Fund, after consultation, have deposited these sums in the post office and opened a passbook.

Answer

Public trusts (amana) are kept in two kinds: one in the form of banknotes, the other in the form of gold, silver or jewellery. The second kind is kept intact as it is and is not made use of; the first kind may be made use of. Find out directly from the Muslim Fund which of its capital is kept in the treasury of Darul Uloom or in a registered bank.

Source: Fatawa Mahmudiyya

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