• Transactions & Dealings >> Interest & Insurance

    Question ID: 45267Country: India

    Title: Utilization of Unclaimed huge interest amount lying in the Banks for legal cases of innocent persons who were arrested unduly.

    Question: Recently I came across an article in Milli Gazette that there is more than 1.6 lakhs crores of unclaimed interest amount lying in the Indian banks accounts belonging to Muslims. Can this amount be utilized in clearing loans of poor people who are unable to clear them and are forced to pay interest, can it be utilized for court cases of innocent prisoners who are unable to bear the case expenses?

    Answer ID: 45267

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 1457/1457/M=11/1434) The Muslims who have interest amount in their bank accounts, they should withdraw it from banks and give to the poor as charity. Then the poor are free either to pay their debts with it or spend it in any other head. You may not use the interest amount in legal cases directly, but if there is any poor person detained unduly he may be given interest money which he can use in the expenses of legal cases.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India