Fatwa #1299525 October 2004South Africa

Is it permisable to use interest money to pay for brokerage and share purchasing expenses? Also to pay for bank charges?

Answer

No, it is not permissible to use interest for this purpose.

Interest should be given away to the poor without any intention of reward.

and Allah Ta'ala Knows Best

Mufti Muhammad Kadwa
FATWA DEPT.

#21082Are we allowed to pay our bank charges with interest money?
#43429Interest money to pay online fraud transaction
#43409Interest money for bank charges
#28088Can money received from bribes be used to pay interest, taxes or for social welfare projects?
#20412Paying transaction fee with the interest received from the ICICI bank
#2366Understand that working in a banking institution is not right. I feel that collecting interest and paying is haraam but obtaining a salary is not interest since it is money worked for.
#12148Is it jaiz to use interest earned from a bank to pay off interest charged from the same bank ?
#38977Will paying a creditor rent for the house purchased using his money, be considered as interest?

Something wrong with this record?

Answer

Related rulings