What is the ruling on benefiting from money whose source is an interest-based loan that has multiplied several times through banking and interest-based transactions? And how can one dispose of it, if that is necessary?
Repentance from engaging in usury (riba) is obligatory, as it is one of the major sins. Repentance includes getting rid of the usurious increment by spending it on charitable causes or giving it to the poor and needy. The owner of the money is only permitted to keep their original capital, based on the Almighty's saying: "And if you repent, you may have your principal – [thus] you do no wrong, nor are you wronged." If the repentant person is poor and needy, it is permissible for them to take from these funds an amount sufficient for themselves and their dependents. Based on this, the usurious interest added to your father's account is not permissible for him, and you are responsible for the interest added to your account, and it is forbidden for you. As for the principal amount deposited by your father – which is sixty thousand – it is not forbidden for you, because his money is mixed, and it is permissible to deal with someone like him.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/195854
- Source platform
- Ftawy
- Original fatwa ID
- 195854
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy