Depositing money in a “society”

Question

Question: In Deoband and Saharanpur there is a “society” in which Muslims deposit money. Is it permissible to deposit money in it, given that they also collect a monthly charge in proportion to the money, in such a way that if someone pledges jewellery and takes money, he also has to pay one rupee per hundred? Is taking this one rupee permissible? Kindly favour us with an answer.

Answer

Depositing money and the like for safekeeping is permissible. For accounts and safekeeping arrangements they make entries in a copy-book and the like and charge its price; this is valid.

Source: Fatawa Mahmudiyya

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