Interest money from the bank
Q: I have an account in the bank. Yearly I get interest from the bank. Is it legal in Islamic law to earn interest from the bank?
Interest money
Using interest money to pay import duties
Q: Can interest money be used to pay the import duty, taxes, anti-dumping (AD), and countervailing duties (CVD) which a government levies on imported goods?
Anti-Dumping Duties (AD): "A protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value...They come into play when a foreign company is selling an item significantly below the price at which it is being produced. The logic behind anti-dumping duties is to save domestic jobs, although critics argue that this leads to higher prices for domestic consumers and reduces the competitiveness of domestic companies producing similar goods." [http://www.investopedia.com/terms/a/anti-dumping-duty.asp#ixzz3ZkRuXZqq]
Countervailing Duties (CVD): Countervailing duties (CVDs), also known as anti-subsidy duties, are trade import duties imposed under World Trade Organization (WTO) rules to neutralize the negative effects of subsidies. They are imposed after an investigation finds that a foreign country subsidizes its exports, injuring domestic producers in the importing country." [http://en.wikipedia.org/wiki/Countervailing_duties]
Getting rid of interest money
Q: If I received interest money in my bank account and didn't get rid of it and spent it without thinking. Can I make amends by giving some money (closest to the amount of interest I may have got, can't be sure) to charity without the intention of reward?
Paying government fines with interest money
Q: I have an account in which I am receiving interest based on available balance every month. Every month, I separate this amount and set it aside without using it. Recently, I have been charged a municipality fine. Can I pay this fine from this interest amount?
Paying debts with interest money
Q: I would like to know if interest (ribaa) money can be used to pay off debts? Can it be given to a Muslim to pay off debts owing to a Muslim? The person with the debt cannot afford to pay off the debt.
Interest money
Q: For what purpose can we use interest from bank?
Interest money
Q: Please I am from Tunis. My son has a million in a bank so after 11 years he find "agios" "faida". I want to ask you if he can spend this money for his study?
Interest from the bank
Q: Is bank interest in India acceptable for a Muslim?
Disposing of interest money
Q: A person accrues R50 of haraam interest in his bank account. From his wallet, he gives R50 in cash to a poor person with the intention of disposing of this accumulated interest in his bank account. Has he disposed of the R50 interest, noting that the actual ‘interest R50’ is still in his bank account?
Paying fines with interest money
Q: I recently learnt that it is permissible for a Muslim to use interest money to pay fines, toll fees and vehicle licensing fees. Is this correct?