Fatwa Explorer

Fatwa #7225 September 2000Pakistan

Can I disburse of interest by paying Rands locally against interest earned on a bank account overseas in US Dollars thereby making the US Dollars halaal?

Question

Rand = South African currency

Answer

It is permissible to convert the interest amount of dollars and pay in Rands.

and Allah Ta'ala Knows Best

Mufti Ebrahim Desai

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