Fatwa #1359920 October 2005Netherlands

What to do with the interest im getting from the bank, it is not possible to cancel the interest at my bank

Question

What to do with the interest im getting from the bank, it is not possible to cancel the interest at my bank cause it is the law of the bank to pay interest.

Answer

It in necessary to dispose off the interest by giving it to the poor and needy. Therefore you should withdraw the interest amount and give it away in charity without intention of reward.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

#17518I currently have two bonds and an overdraft. The initial amount of the bonds have long been paid off, it is basically the interest that I am paying. In order to get out of this sin, I have decided to cancel my life insurance policies
#28088Can money received from bribes be used to pay interest, taxes or for social welfare projects?
#16102I want to get a car from bank. As you know I have to pay interest on it. Pls. tell me if it will halal or haram.
#18201I have bought a second home a few years back using a normal riba based loan, therefore paying the bank huge sums of interest every month. I want to follow the right path now..
#14548husband refuses to cancel a credit card that his parents use which charges a lot of interest on it. It is not only ruining his credit, but we also have to end up paying interest on it.
#14950I would like to know whether is it permissible to pay this interest to bank using the dividend/return on my investment that I had already received?
#19739Can I pay off the interest received from the bank to pay the interest on the car?
#12148Is it jaiz to use interest earned from a bank to pay off interest charged from the same bank ?

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