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Interest Money

Answered according to Hanafi Fiqh by DarulUloomTT.net

Question: Assalamu alaikum,
The money I work for goes directly to the bank and the bank usually put in interest in my account every quarter year. It’s usually a couple cents or dollars. What can I do with the interest?
They have a non interest account that requires me to pay $25 every month. Is this better for me?
Also, is it okay to collect miles on my credit card? I don’t pay interest on my card because I always pay the sum back as soon as I use it.
Thank you.

 

Answer: Wa Alaikum As Salaam,

You should give the interest money to the poor and needy.

It is better for you to open the non interest account.

Yes, it is permissible to collect miles on your credit card.

 

And Allah Knows Best.

Mufti Waseem Khan.

12/11/2014

This answer was collected from DarulUloomTT.net, which is operated under the supervision of Mufti Waseem Khan from Darul Uloom Trinidad and Tobago.

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