Using interest money to pay exorbitant rates on one's property
Question
Can interest money be used to pay exorbitant rates on your property? Or can they be used to pay high bank charges? Can they also be used to pay tax or toll road charges?
Answer
It is impermissible for one to intentionally accumulate interest money. However if interest money had come in ones possession unintentionally one should dispose of it through giving it to the poor without the intention of reward. Using interest money to pay for bank charges, toll road charges or any valid service is impermissible. According to some Ulama' it is permissible to use interest money for paying the rates of one's property and government taxes.
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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