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Can I use interest money to pay off my student loan?

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Question

Using interest money clarification

In fatwa #39618 I asked a question regarding using my credit cards interest money for assisting me pay back the interest loan. I am letting the interest accumulate (but i still have no control to stop it) and in fact, I am trying to maximize the amount of interest so that I gain the most money I can to pay back the loan as early and fast as possible.

 

Fatwa 40016 then says “it is not permissible to deliberately accumulate haram money for any reason. So, am I allowed to do what I am doing? Fatwa 39618 says, I may use the interest money to pay the debt. I’ll also add that I have not started paying back the loan as I’m still in Uni, but in a couple of years when I graduate, that’s when the loan will be forced to be paid back (with the added interest), so im saving up and preparing now.

 

JazakhAllah

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Fatwa 39618 states “if a person is poor, and does not have sufficient funds to pay his debt and is eligible to accept Zakaat, then it will be permissible to pay his debt with interest money. Accordingly, you may use the interest money to pay your debt.”

This means that if one is eligible to receive Zakah, then he may use the interest money to pay off his debt.[1] In your situation, you are not obliged to pay your debt until after a few years.

Accordingly, you are not a legitimate recipient of Zakah. It is not permissible for you to collect interest to pay off a future debt. [2]  The accumulated interest must be disposed of by giving it in Sadaqah to the poor and needy.

 

And Allah Ta’āla Knows Best

Mizanur Rahman

Student, Darul Iftaa

UK

 

Checked and Approved by,
Mufti Ebrahim Desai.


[1] کتاب الفتاوی، مولانا خالد سيف اللہ رحمانی، زم زم پبلشرز، کراجی، پاکستان (5/319)

عنوان – سود کی رقم سے مقروض کی مدد

 

[2] القرآن الكريم [البقرة: 275]

 

حاشية رد المحتار على الدر المختار: شرح تنوير الأبصار في فقه مذهب الإمام أبي حنيفة النعمان، محمد أمين الشهير بابن عابدين (المتوفى: 1252هـ)، أيج أيم سعيد كمبني، كراتشي، باكستان (6/385)

(قوله كما بسطه الزيلعي) حيث قال لأنه كالمغصوب وقال في النهاية: قال بعض مشايخنا: كسب المغنية كالمغصوب لم يحل أخذه، وعلى هذا قالوا لو مات الرجل وكسبه من بيع الباذق أو الظلم أو أخذ الرشوة يتورع الورثة، ولا يأخذون منه شيئا وهو أولى بهم ويردونها على أربابها إن عرفوهم، وإلا تصدقوا بها لأن سبيل الكسب الخبيث التصدق إذا تعذر الرد على صاحبه اهـ

 

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