Receiving a refund for mis-sold PPI and interest
Fatawa Question
My father has received a refund for mis-sold PPI on a credit card for period from 2000-2012. They have also refunded interest he paid, as well as 8 % interest on top as statutory compensation. Is the refund of the interest he paid permissible to keep ? Also the 8 % interest as compensation ? We still have some Riba based debt that we are trying hard to pay back so is it permissible to use the 8 % compensation interest towards these debts to offset against any interest we have have been charged ?
Fatwa
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Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2015-06-29
Country of Publication
United Kingdom
Main Subjects
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726146
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2015-06-29. Receiving a refund for mis-sold PPI and interest. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726146
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England). Receiving a refund for mis-sold PPI and interest. Manchester England : al-Qalam Shariah Scholar Panel. 2015-06-29.
https://search.emarefa.net/detail/BIM-726146
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England). 2015-06-29. Receiving a refund for mis-sold PPI and interest. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726146
