Question: Accounts
that I have at the bank all pay varying rates of interest. I usually donate
the interest amounts to charity. Now, if I undertake a loan in which I
pay an interest rate and only pay the interest amount due with the interest
that I receive from my accounts (but pay the principle amount with
my own earnings). Am I, in your opinion, in error?
Answer: I
think that there is no harm in this dealing. The interest you are getting
is not your right Islamically, while the interest you are paying is an
injustice you are encountering. So, it is merely a situation of paying
something that was not your right in order pay to off something that should
not have been demanded from you in the first place.
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