Accumulating interest money

Submitted by admin on Thu, 2016-09-29 07:49

Q: My bank used to pay me interest before I stopped it. Is zakat due on this interest money?

A: It is not permissible for one to intentionally accumulate interest money. However if interest money had come in one's possession unintentionally, one should immediately dispose of it through giving it to the poor without the intention of reward. Zakaat is not waajib on such impure money.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Business and Dealings›Interest and Gambling›Interest money

Labels:

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