How to deal with interest -- Question/Answer Board

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Subject:

How to deal with interest

Author:
Safiyah

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Date Posted: 15:53:07 09/03/02 Tue
Author Host/IP: cache-dg05.proxy.aol.com/205.188.208.137

As-salaamum Alaikum

My son recently passed away and had me down on his life insurance policy. I received a large amount of money. As I am a fairly new Muslim, I know next to nothing about interest what's right and what's wrong. I was told to give 2.5% zakat. What do i do with the interest that is collecting on the money that is in the bank? How can I have the money and not collect interest? Am I able to invest the money for future security? Please answer as soon as possible, I don't know what to do.

Safiyah

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Replies:

[> Subject: Re: How to deal with interest
Author: Moustafa morsy [ Edit \| View ]	Date Posted: 23:27:58 09/03/02 Tue Author Host/IP: mt.24.171.69.29.charter-stl.com/24.171.69.29 Alikom Assalaam . First I ask Allah to make you patient,and give you the reward of having patience,Ameen. You did not mention when you signed this insurance contract,was it before you become a muslimah or after? Also,is this insurance policy from your job or you did it by yourself?