Fatwa #1449117 August 2006United Kingdom
My account has interest on it. What should i do to make ammends? I was thinking of telling the bank to cut the interest from my account so there wouldnt be anymore interest
Question
My account has interest on it. What should i do to make ammends? I was thinking of telling the bank to cut the interest from my account so there wouldnt be anymore interest. But what would i do with the money thats in the account from before. should i give it to charity?
Answer
It is not permissible to deliberately earn interest. However, if you have received interest due to using some facilities of the Bank, you should calculate the amount and dispose of it by giving it to the poor and needy.
and Allah Ta'ala Knows Best
Mufti Ebrahim Desai