Is it permissible for any person to deposit funds with others and charge monthly interest?

Answer

If the deposited money was with the intention of investment in accordance with a shar‘ī contract, there is no harm in that, nor is there any objection to receiving the profit as a result of the investment. However, should it be intended as a loan, the loan deed is correct in principle. Yet, the stipulation of earning ribā is invalid. Accordingly, any interest thus earned amounts to ribā which is ḥarām.