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Purification Of Money From Riba
اَلسَّلَامُ عَلَيْكُمْ وَرَحْمَةُ ٱللَّٰهِ وَبَرَكَاتُهُ
Respected Sir,
I seek guidance regarding the purification of wealth (tathir al-mal) from riba (interest) in the following scenario:
Situation:
1. I hold a savings account with a UK-based online bank (there is no option for current/sharia-compliant option available with them, i even asked them to stop payment of interest to me but they don’t have any option).
2. This is the only account I can open overseas from Pakistan.
3. The bank automatically credits interest monthly to the account.
Question:
To purify these earnings:
– Option 1: Must I remove the exact interest amount from the same UK account and dispose of it (without intending reward)?
– Option 2: Can I give an equivalent amount from my Pakistani account (non-riba funds) to charity, while leaving the UK interest untouched?
I aim to ensure compliance with Shariah while facing practical constraints. JazakAllah Khair for your guidance.
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1 Reply
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Purification Of Money From Riba
updated 4 days, 15 hours ago
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Deposit with bank is in fact investment with the bank. The interest the bank gives is profit, not Riba. Riba is only in the loan transaction.
Most of the bank’s businesses are Riba free. It is only the personal loan which incurs Riba.
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