[Answered]Interest - is it haraam or halaal or both?

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qamar
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[Answered]Interest - is it haraam or halaal or both?

Postby qamar » 30 Sep 2013, 12:57

(salam) Sheikh

I read your answer to a question on working in a bank.

You mentioned about Interest being Halaal and you also mentioned it as Haraam.

When does interest become halaal?
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Re: Interest - is it haraam or halaal or both?

Postby fsl96 » 02 Oct 2013, 15:51

In regard to this, i Have got a question... If there are no islamic banks to deposit your money. and you have no other choice to deposit your money to the banks which gives interest... i know its harraam i don't want to use that money at all... is it allowed to gig away this interest money to donation such like cancer hospital.

I mean to say, if we aren't allowed this money, is it allowed on to give away as donation. is it allow the receivers to take the donation money which was from our interest just because we dint want to use?
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Re: Interest - is it haraam or halaal or both?

Postby Sh.SaqalainAbbas » 03 Oct 2013, 07:38

w salaam wr wb
yes there are two types of interest haram and halal. Haram interest is like between two Muslim or when a muslim gives to non Muslim and halal interest is between Muslim and non Muslim when he takes from non Muslim and between father and son and some other kinds .
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Re: Interest - is it haraam or halaal or both?

Postby Sh.SaqalainAbbas » 03 Oct 2013, 07:51

According to second question if government bank gives you some interest on your saving of wages yes you can take it and it is also halal for u but with condition of giving the 50% of this amount to poor and needy believers .

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