Q: From Islamic point of view is it allowed to use the interest received on the money from a bank?
A: Interest is haraam in Islam.
And Allah Ta’ala (الله تعالى) knows best.
يَا أَيُّهَا الَّذِينَ آمَنُوا لَا تَأْكُلُوا الرِّبَا أَضْعَافًا مُّضَاعَفَةً وَاتَّقُوا اللَّـهَ لَعَلَّكُمْ تُفْلِحُونَ (آل عمران: 130)
Answered by:
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)