As salamu alykum wa rahmatullahi wa barakatuhu,
I had taken a loan to purchase a plot/house for personel use about 1 yr and 2 months ago from the bank and i deposited that amount in savings bank account of another bank in my hometown. unfortunately, till now, i’m unable to purchase it.Anyhow,I’m in debt and paying the instalments to the bank regularly and the instalments complete upto 3 years.Now,I have started recieving the interest upon the deposited amount in my hometown bank. related to this, I have various questions.
1. Can I use the interest money for my relatives marriage/good cause without any intension of sawab? If not then, what to do with that money?
2. Can I use the interest money to repay my loan /instalments/Interest to the bank from which I borrowed?
3.I’m already in debt,but should I have to give the zakat for deposited money which is meant to purchase the plot/house for my personel use?
Jazakallau khair
In the name of Allah, Most Gracious, Most Merciful
Assalaamu `alaykum waRahmatullahi Wabarakatuh
Allah Ta’ala is Hakeem (Most Wise). Whatever is beneficial for mankind has been permitted and whatever is harmful (though it might seem beneficial) has been forbidden.
Severe warnings have been mentioned in the Noble Quran regarding those involved in interest and usury. Allah Ta’ala mentions in the Holy Quran:
الذين يأكلون الربا لا يقومون إلا كما يقوم الذي يتخبطه الشيطان من المس
ذلك بأنهم قالوا إنما البيع مثل الربا وأحل الله البيع وحرم الربا.
Those who take ribā (usury or interest) will not stand but as stands the one whom the demon has driven crazy by his touch. That is because they have said: “Sale is but like ribā”, while Allah has permitted sale, and prohibited ribā. (Verse: 2:275)
يا أيها الذين آمنوا اتقوا الله وذروا ما بقي من الربا إن كنتم مؤمنين. فإن لم تفعلوا فأذنوا بحرب من الله ورسوله وإن تبتم فلكم رءوس أموالكم لا تظلمون ولا تظلمون.
O you who believe, fear Allah and give up what still remains of ribā, if you are believers. But if you do not (give it up), then listen to the declaration of war from Allah and His Messenger. However, if you repent, yours is your principal. Neither wrong, nor be wronged. (Verse: 2:278,279)
عن جابر قال لعن رسول الله صلى الله عليه وسلم آكل الربا وموكله وكاتبه وشاهديه وقال هم سواء. (رواه مسلم)
Sayyiduna Jabir رضي الله تعالى narrates that Nabi صلى الله عليه وسلم cursed those who are involved in usury; whether it is the person who is giving usury, receiving it, writing the transaction or witnessing it. (Sahih Muslim Vol.11 Pg.28 – Dar al-Ma’rifah)
Therefore, it is imperative to sincerely repent to Allah Ta’ala and make a form intention to free yourself from all interest bearing transactions. We strongly recommend that you pay of your interest bearing loan instead of keeping it in another bank account. Insha Allah by giving this up for the pleasure of Allah Ta’ala, Allah Ta’ala would grant you a much greater recompense in this world and the hereafter.
The answers to your queries are as follows:
- Interest money should be given in charity without the intention of reward. Therefore, if your relatives are poor, you may give them the interest money. If you personally are poor, you too could use the money.
2. In principle one may only trade off interest against interest from the same bank. One cannot trade off interest against interest in different banks. However, if there is a need (dharoorah) interest from one bank could be used to set off interest from another bank also.
3. The money deposited should be used to pay off the interest bearing loan. When calculating your zakatable assets, subtract the amount of the loan from your capital and pay zakah on the balance.
تبيين الحقائق – (ج 7 / ص 60) علمية
وقال في النهاية قال بعض مشايخنا كسب المغنية كالمغصوب لم يحل أخذه ، وعلى هذا قالوا لو مات رجل ، وكسبه من بيع الباذق أو الظلم أو أخذ الرشوة يتورع الورثة ، ولا يأخذوا منه شيئا ، وهو أولى لهم ، ويردونها على أربابها إن عرفوهم ، وإلا تصدقوا بها ؛ لأن سبيل الكسب الخبيث التصدق إذا تعذر الرد على صاحبه
جديد فقهي مسائل 4/93 كتب خانه نعيمية
البحر الرائق – ث – (ج 2 / ص 204)رشيدية
وشرط فراغة عن الدين لأنه معه مشغول بحاجته الأصلية فاعتبر معدوما كالماء المستحق بالعطش ولأن الزكاة تحل مع ثبوت يده على ماله فلم تجب عليه الزكاة كالمكاتب ولأن الدين يوجب نقصان الملك ولذا يأخذه الغريم إذا كان من جنس دينه من غير قضاء ولا رضا أطلقه فشمل الحال والمؤجل ولو صداق زوجته المؤجل إلى الطلاق أو الموت وقيل المهر المؤجل لا يمنع لأنه غير مطالب به عادة بخلاف المعجل قيل إن كان الزوج على عزم الأداء منع وإلا فلا لأنه لا يعد دينا كذا في غاية البيان ونفقة المرأة إذا صارت دينا على الزوج إما بالصلح أو بالقضاء ونفقة الأقارب إذا صارت دينا عليه إما بالصلح أو بالقضاء عليه يمنع كذا في معراج الدراية
And Allah knows best
Wassalaamu `alaykum
Ml. Ishaq E. Moosa,
Student Darul Iftaa
Checked and Approved by:
Mufti Ebrahim Desai
Darul Iftaa, Madrassah In’aamiyyah