What is the ruling concerning profits generated from a sum of money that was frozen in the form of gold, knowing that the transactions were deferred and not hand-to-hand? And what about the previous profits that were spent, some of which were given as charity?
Immediate possession must occur at the contract مجلس of the sale of gold, silver, or paper currencies, as they are annexed to them. Thus, what is called "abonnement" is not permissible, where gold is given to the merchant and its substitute is taken from the manufacturer at a later time.
If a usurious transaction occurs without immediate possession, it must be annulled if possible. If not possible, repentance is sufficient.
As for profits realized from prohibited transactions before knowing their prohibition, there is no harm in benefiting from them, based on the Almighty's saying: "So whoever receives an admonition from his Lord and desists, he may have what has already passed, and his affair is with Allah."
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