[Interest earned]

السؤال

From : Muhammad Asalam-O-Alaykum Sir, Problem : how to deal with the amount of interest earned on defense saving certificates previously deposited by parents Background : My name is Muhammad Ahmed (27 years). I have two sisters (35 and 37 years, both married). My parents passed away in 2003 when I was 17 years old. They left defense saving certificates (DSC) of X amount purchased in different years. At that time I was not mature enough to utilize that amount in an efficient way. Now the amount of those DSC has been X + interest. From various sources I have come to know that extra amount is Riba which is Haram in Islam). Sir, at that time inflation rate was also quite below than current inflation rate (for example price of one item when DCS was purchased was 100 now it has been 250 or even more). Situations : Since I was not mature and education was in process so I couldn’t use that amount as a whole but I used some out of it. Money devalues with the passage of time, if I would have invested the amount at that time, today I would be enjoying the benefits of investments plus all profits. At that time I did not know that such type of deposits are not acceptable in Islam. Questions : 1. What should I do with the amount of interest ? Can I use some amount out of it due to the increasing inflation rates ? 2. If I cannot use some amount out of it, where should that amount be utilized ? 3. I found a book “Aap K Masail Aur Un Ka Hal” written By Sheikh Muhammad Yusuf Ludhyanvi volume no 6, page no 251-254 in that book they told “I can exchange the amount of interest with a non-Muslim by getting interest free loan and returning back the loan from the amount of interest, is it valid ? 4. As the interest amount is huge enough which is in doubt, can I use it or not ? If this amount is not Halal for me, can I start some business for help out the needy persons ? In this case the entire profit earned would only be used for the needy persons. If I am allowed to start such business, can I perform my duties as employee in that business or not ? 5. As I told you, DSC was purchased in different time periods, now will the Zakah of that amount count from the purchasing date of those DSC or would it be counted when they will come into my custody ? As I do not know that my parents have given the Zakah on them before they died. However, I am sure that my parents used to pay Zakah on regular basis. Please, tell me the solution. Best regards.

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تاريخ النشر

2013-01-10

التخصصات الرئيسية

العلوم المالية و المحاسبية
الأديان
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• القروض
• الأموال
• الأجور
• الربا

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-733612

• APA
• MLA
• AMA