Published 1 year ago
Last updated 1 year ago
Q: We, in our family inherited shares in a private company. The company apparently pays interest to shareholders on their loan accounts. But is such interest permissible in accordance with Shariah? Kindly advise.
A: All interest bearing loans are haraam in Islam. Severe warnings have been sounded in the mubaarak Ahaadith for all those who get involved in the grave sin of riba.
If the company's main business is halaal, then the shares one had inherited will be halaal. If one has knowledge of any wealth of the share earned through riba, then after accepting one's share, one should give it to the poor without the intention of receiving any reward.
And Allah Ta'ala (الله تعالى) knows best.
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