Zakah and taxes-payment of taxes from earned interest ? : tax payment from earned interest

Fatawa Question

Thank you for answering my previous 2 questions. I have a daily question by many Muslims ; I will list some facts then the question (1) we receive money from the banks as an interest on our accounts (2) we pay taxes on most item we buy (3) we pay property tax on our homes (4) most of us pay interest on money we borrow from the banks to by home to live in. I read the Fatwa concerning taking mortgage from bank to buy house to live in he confirm that this Haram but he said that sometimes but not at all time etc. I refere to his Fatwa vg 3 a 9 . Now my question is (10 what to do with the money we receive from the bank as interest to our account [2] can we use this money to pay the property tax on our houses and / or to use it to pay the interest on our mortgage. I told you that I took a mortgage from the bank the same year I immigrated to Canada, at that time I did not know that this is Haram. Dr. Monzer Kahf asked me to more Istighfar thank you and may Allah bless you.

Fatwa

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Publication Date

2002-04-14

Main Subjects

Economics & Business Administration
Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Islamic economics
• Contracts
• Taxes
• Mortgages
• Alms tax
• Usury
• Subprime mortgage
• Charities

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-726945

• APA
• MLA
• AMA