• Transactions & Dealings >> Interest & Insurance

    Question ID: 121Country: India

    Title: Interest received from a non Islamic bank into my account .. Does the interest given to the poor physically have to be from that account or can the equivalent interest amount be given from another account or other savings.

    Question: Interest received from a non Islamic bank into my account .. Does the interest given to the poor physically have to be from that account or can the equivalent interest amount be given from another account or other savings.

    Answer ID: 121Posted on: Sep 1, 2020

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 373/M=374/M)

    The interest received from any bank must be given to the poor and the payment should be from the same account in which it was received. Though, the interest amount is mixed in onesingleQuos depoited money and it is difficult to separate one from another, but the amount of interest should necessarily be given to the poor. It is not good to give the same amount of money (equal to interest) from any other account and use the interest money for himself. Therefore, it should be from the same acount in which it was received.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India