Darul Ifta Ibn Masood

Receiving interest in a bank account

· 24 Shawwal 1445 AH1 min readEnglish

Question

I receive interest in my bank account every month. I dispose of the interest amount from the cash I have on hand and do not remove it from the account. Is this allowed?

Answer

It is not permissible to dispose interest funds accumulated in one’s bank account from one’s Halaal money which you have in your hand, as the Halaal funds in your hand cannot be a substitute for the Haraam interest in the bank account. You will therefore have to withdraw the Haraam funds from the account and dispose of it to the correct recipients as stipulated in Shariah.

References (Arabic / Urdu sources)

(وَذكر أهل التَّفْسِير أَن الْخَبيث وَالطّيب فِي الْقُرْآن على ثَلَاثَة أوجه: أَحدهَا: الْخَبيث الْحَرَام وَالطّيب الْحَلَال، وَمِنْه قَوْله تَعَالَى فِي سُورَة النِّسَاء: {وَلَا تتبدلوا الْخَبيث بالطيب}. (نزهة الأعين النواظر في علم الوجوه و النظائر

Answered by
Maulana Abdul Kader Fazlani
Checked & approved by
Mufti Mohammed Desai Saheb
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Source: Darul Ifta Ibn Masood — https://fataawa.co.za/receiving-interest-in-a-bank-account/
Fatawa SA: https://fatawa.co.za/fatwa/ibnmasood-31623

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