Transactions & Dealings >> Interest & Insurance

Question ID: 44685Country: Pakistan

Title: Interest Received from Banks

Question: I have received interest of Rs.300,000/- from Financial Institution in Karachi. I have obtained fatwa from Darul Uloom Korangi that the profit I have received is hram. What should I do with the interest I have already received?

Answer ID: 44685Posted on: Aug 30, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 466/360/H=1434) The ruling of interest is same which is written in the Fatwa of Darul Uloom Korangi. It shall be ruled as haram whether you received it recently or in past; in both the cases the ruling is same. However, it is better to visit Darul Uloom Korangi and learn the ruling in detail.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

Related Questions

Q. What we Muslim should do with BANK INTREST? 1783 views
Q. Bank Job 3382 views
Q. Is it permissible in Islam to buy things on EMI? Some companies offer zero interest EMI on their products. Is it permissible to buy them? 25319 views
Q. My grandfather passed away a month ago. He had a joint account in bank with my grandmother. 1574 views
Q. Regarding PPF account 1902 views
Q. tax deducted at source 1587 views
Q. Some people says that fixed deposite intrest money can be used in purpose like building toilet bathroom and cleaning of nail and garbeg (kura)around are home . 1884 views
Q. Is it permissible to use Interest money from Banks to pay Income tax to government? 2732 views
Q. I work in a real estate company to co-ordinate with bank for bank loans. 1414 views
Q. I already availed home loan. Now Can I pay Home loan interest by saving bank account or Fixed deposit interest? 1624 views
Q. Use of interest money 2836 views
Q. Ruling on home loan 2039 views
Q. Can I buy an old bike or car which is initially bought on loan by first or second owner? 2038 views
Q. Today i planed to purchse one flat in mumbai cost 20 lakhs,but i could not,becouse need some more mony and only the way to take loan from the bank like 30% loan.Then i refused not to take loan and will purchase after one year with full money without loan.but after one year cost of flat gone to 30 laks and now also same situation as above.so my question is that loan from the bank is possible?becouse rate are going high and high.If i purchase that flat in 20 lakhs with loan then i could gain more flat cost.my monthly salary is around 0ne lakhs ALHAMDULILLAH.Please advise me in light of quran and hadith. 2273 views
Q. I am a salaried person and company deducts income tax from our salary and pays it to the goverment. We have to submit a income tax certificate, which company gives us at the end of every financial year, to the goverment. I worked for two companies during April,2005 to March,2006 and I forgot to submit income tax certificate for the first company, althogh my company had deducted income tax from my salary and paid to indian government. I recived a notice from income tax department stating that I had to produce certificate of the first company within 7 days.Although I was late to produce it, but income tax official was demanding money as bribe to accept it and do necessary correction. Initially he was demanding Rs 10,000/- but later on Rs 5,000 was settled. Please let me know whether I can pay this bribe from haram money e.g. bank interest or there is any other way to do it. 1534 views

Total Questions: 9181

Faiths & Beliefs

Miscellaneous

Prayers & Duties

Social Matters

Transactions & Dealings

Title: Interest Received from Banks

Question: I have received interest of Rs.300,000/- from Financial Institution in Karachi. I have obtained fatwa from Darul Uloom Korangi that the profit I have received is hram. What should I do with the interest I have already received?

Related Questions