Are Treasury bills (T-bills) halal?
No — a T-bill is a short-term loan to the government sold at a discount, and the discount is interest by construction.
Buying at 98 and redeeming at 100 is economically and legally identical to receiving 2% interest on a loan — the zero-coupon structure doesn't change the riba analysis, and scholars treat it accordingly. The same applies to T-notes, T-bonds, and money-market funds built on them.
The demand T-bills serve — parking cash safely at a yield — is legitimate. The compliant versions: short-duration sukuk funds, Islamic money-market alternatives (wakala/murabaha-based deposits where available), or simply accepting unremunerated cash for true safety.
The compliant alternative
Short-duration sukuk (SPSK), Islamic bank wakala deposits where available, or plain non-interest cash.
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My broker sweeps idle cash into a money-market fund — is that a problem?
Usually yes: sweep funds hold T-bills and repos. Most brokers let you switch the sweep to a non-interest cash option — do that, and decline or donate any interest already credited.
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Educational summary of commonly held scholarly positions — not a fatwa or financial advice. Where scholars differ, we say so; for a binding ruling on your situation, consult your scholar. See how Penny screens.