Darul Iftaa Mahmudiyyah

can u pay off the installments of your vehicle that was stolen with interest money

· 30 Jumada I 1423 AH1 min readFatwa 6360English

Question

my friends vehicle was stolen due to a hijacking and was never recovered. Insurance refused to pay because he did not have a satelite tracking device and did not know that he was paying a discounted premium because the policy stated that he had infact a device installed.His broker was dishonest to him. He has to bare with the loss of his vehicle without any recourse.He would like to know if it is permissible to the settle the bank(vehicle financed) with interest money

Answer

It is not permissible to settle his balance with interest money.

and Allah Ta'ala Knows Best

Moulana Imraan Vawda
FATWA DEPT.

CHECKED AND APPROVED CORRECT: Mufti Ebrahim Desai

Answered by
Moulana Imraan Vawda
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/6360
Fatawa SA: https://fatawa.co.za/fatwa/askimam-6360

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