A section of Islamic jurists (muftis) have passed a resolution saying the government's Sukanya Samriddhi Yojna (SSY) is "illegal" under Sharia as interest is accrued as part of the scheme.
Siddiqi said that the SSY is based on interest and therefore, it is illegal according to Islamic Sharia.
According to the resolution, under the scheme, a bank account is opened in the name of a girl, who is less than ten years of age, by her parents who deposit money in it.
"The bank annually increases the amount by aiding annual interest up to nine percent . It is because that this scheme involves interest, it is clearly un-Islamic," the resolution read.
The scheme was launched by Prime Minister Narendra Modi in 2015 as a part of the 'Beti Bachao, Beti Padhao' campaign, to enable parents of girl child to save money for their education and marriage.
The conference was attended by many eminent Islamic scholars and jurists including Maulana Qari Mohammad Usman Mansurpoori, president Jamiat Ulama-i-Hind, Maulana Habiburrahman Khairabadi, Mufti of Darul Uloom Deoband, Maulana Nematullah Azmi, Darul Uloom Deoband and Mufti Saeed Ahmad Palanpuri Sheikhul Hadith of Darul Uloom Deoband.
In another resolution, it was declared that financial transaction by different mobile apps was allowed. Cashback or reward points, and booking app based cabs were also declared lawful as per Sharia, Siddiqi said.
In the same resolution, the Muftis declared that using Google AdSense for advertising lawful goods is allowed. However using it for the promotion of movies and illegal programmes is not allowed in Islamic Sharia, he said.
About two hundred Islamic jurists from eminent institutions participated in the conference.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)