Is it permissible for me to take the money my father apportioned to me from the profits of shares in a usurious bank, and how should I dispose of the money from it that I have already spent and that which I have not?
It is not permissible to accept or own these shares because they are shares in an interest-based bank and represent undivided stakes in it, and the shareholder is a partner in all its operations. Any amount exceeding the original value from the sale of these shares is unlawful (haram) and must be spent on the welfare of Muslims. The value at which they were purchased should be returned to your father. From the returns of these shares, the unlawful portion must be expiated, and the remainder returned to your father. The shares that have not been sold must be returned to your father due to the invalidity of their ownership. Your father must request the bank to take back the shares and refund what was paid. If they do not comply, he must expend the unlawful return from them on the welfare of Muslims, and he is not permitted to sell them.
Summarized from the full answer at Ftawy · imported
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- Source platform
- Ftawy
- Original fatwa ID
- 56220
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
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