Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh.  (May Allah's Peace, Mercy and Blessings be upon all of you)

 

 

One of our brothers/sisters has asked this question:

I am and indian and working abroad. I have NRI account in India, I know it is haram to keep the interest given by my bank. I will be highly obliged if you can guide me how to get rid of this unwanted interest. Can I give it in charity to help some muslim? Also if taking Life Insurance Policy is valid?

Thanks & Regards

 
(There may be some grammatical and spelling errors in the above statement. The forum does not change anything from questions, comments and statements received from our readers for circulation in confidentiality.)

 

Answer:

 

Interest and Life Insurance

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is no one (no idol,  no person,  no grave, no prophet,  no imam,  no dai,  nobody!) worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

 

Allah and His Messenger (saws) have indeed declared it haraam or forbidden for the believers to take interest from any source.  It would be best if you could deposit your money in one of the many Islamic Banks, whereby the Islamic Bank would give you halaal income on your deposits.

 

Rather than leave the interest accumulated in the bank, it would be prudent to spend the interest already earned in any Islamic charity, with the intention of getting rid of the haraam.    Your intention in spending this money in any good cause should be only to get rid of the haraam income and purify yourself from something that, Alhamdolillah,  you have recognized is forbidden by Allah and His Messenger (saws).

 

Ref: Also if taking Life Insurance Policy is valid?

The taking of a Life Insurance Policy is forbidden in Shariah for the believers.

 

Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me.  Allah Alone Knows Best and He is the Only Source of Strength.

 

Your Brother in Islam,

 

 

Burhan