Question
I have some interest accumulated on my account in the bank. Can I give the interest amount from cash I have to the poor, and contra the cash given with the interest in the bank?
Answer
It will not be permissible to contra the interest with cash on hand. The interest will still remain in the bank. You have to withdraw the interest from the bank, making the intention of interest withdrawal at the time when you write the cheque or make the withdrawal. The actual interest thus withdrawn should be disposed of.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 23 No 08
- PDF page
- 12
Appears under Questions and Answers (approximate).