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?
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I am and indian and working abroad. I have
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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
Wister