interest

[786]

SALAAM BROTHERS AND SISTERS!
i know intrest is haram but what if you have an account that has money which is only used to pay bills.
is intrest allowed on that b cos the money is going out not coming in.

[sallu123]

Well, the interest is still being used in paying YOUR bills, so the interest is still an INCOME for YOU. Therefore, if you consider interest haraam, then interest received in a billing a/c is haraam as well. It doesn't make any difference if you didn't get the interest in your pockets, you still earned it in your a/c, there's no difference.

It doesn't matter if the interest income is going OUT. I mean any people who earn interest, do so cuz they wanna spend that interest money, its the same whether its spent on shopping or paying bills or anything else.

The reason why interest is haraam is cuz it may trap the person you (or your bank) lend the money to since that person has to pay this interest to you no matter what. It makes no difference whether you spend that interest income or keep it, that person still had to pay you the interest/riba.

^ Hope that helps/makes sense

[This message has been edited by sallu123 (edited June 26, 2002).]

[zman]

You can have an interest free checking account? I do

Ask Allah(SWT) sincerely for guidence and InshaAllah Allah(SWT) will send His guidence - Ameen