In Islam,how are we expected to save money for future emergencies and needs?

Question

I can't put in bank bcoz of interest

I can't put in business bcoz i can't risk my only little money

I can't keep it locked bczo of fear of theft..

What am i expected to do

Salam n thanks

Answer 1

Save it in an Islamic bank but at the same time its true that there is no real Islamic bank.so in this regard, what the scholars have suggested is

If a person can not find a Muslim bank to deposit his money, then it is permissible to put his money in a bank which deals with interest and usury in a "current (checking) account", not in a saving account which draws interest.

Allah is aware of our intentions, and we shall always pray to him to forgive our sins and guide us to the right and make it easy for us.

Rest Allah knows the best~!

Answer 2

yes, bank is no good, even if by name its called "islaamic bank" because they often charge the interest by different names.  

sometimes even if you don't think of risking your money, it might be a cause of good, which you won't find out.

hmm... and if worst comes to worst, even if you saved the paper money in banks or anywhere else, it'd become value less.  So you always have a risk.  

You can buy property (i.e. gold, silver) which has constant value unlike paper money.  And you can save on your own regardless of the fear of theft.  or you can keep lending it to others.  This is the much I know.

I suggest, you pray Istekhaara and find out as much as you can, and then make ur decision.

Answer 3

Simple jus hv a account whr u kip ur muny dt iz wah i do! i hav no no intrst on mine!

Answer 4

- you can keep it in checking (or current) accounts. so you will get no interest on them

- you can invest in many of the islamic banking tools, they almost provide same level of risk and return on invested money .. these tools are available not only in islamic banks, but also in big world banks

- you can go more risky and invest in the stock market, but it is a big game, especially with today turbelant economics

however, the best type of investments, is to do any or more than one of the above, but also, invest in charity. Prophet said "no charity ever reduced a money" .. and if you do it with full trust of God, you will get money blessing from unexpected ways. The return won't be on money only, but in all aspects of life.