Interest money from the bank
Question
I have an account in the bank. Yearly I get interest from the bank. Is it legal in Islamic law to earn interest from the bank?
Answer
Interest is forbidden and haraam in Islam. There are grave warning sounded in the Ahaadith for the one that has any involvement in interest. You should immediately dispose of the interest money by giving it to the poor without the intention of receiving reward. For further details refer to http://muftionline.co.za/node/2145
And Allah Ta'ala (الله تعالى) knows best.
- Answered by
- Mufti Zakaria Makada
- Checked & approved by
- Mufti Ebrahim Salejee (Isipingo Beach)
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