💰 Family finances · #141

The deceased had conventional savings that earned interest. How do we handle them before faraid?

The principal of the savings is part of the estate, while the interest is set aside and channelled to general welfare. The heirs do not bear any sin for savings the deceased made, but they should not benefit from that interest themselves. Ask for a bank statement that separates the principal from the interest. The principal is divided according to faraid with the rest of the estate. As for the interest, the state Islamic religious council usually has a channel or guidelines for disposing of it. Discuss this with all the heirs so the separation is done together, not by one person alone. Let this experience spur you to move your own savings into a Shariah-compliant account. See family finances.

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This answer is general reference, not a fatwa. For your situation, consult the religious affairs office, a Syarie lawyer or your state Syariah Court.

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