Getting Rid of ‘Fixed Income’ Returns

Answered by Shaykh Faraz A. Khan

Question: My wife became Muslim in May 2011. Her parents had opened up two investment accounts for her, a roth IRA and an Individual Investment account. They just recently transferred the accounts into her name. Upon examining it, I noticed that some of the mutual funds that they invested in were involved in “fixed income” hence riba. Please advise us on what to do. Thanks

Answer: Assalamu alaikum wa rahmatullah,

I pray this finds you in the best of health states.

Simply estimate (to the best of your ability) the amount of interest received from the fixed income returns, and donate it to a good cause without deriving any personal benefit or expecting any reward.

Please see this related answer for more detail:

How Do I Get Rid of Haram Money?

And Allah knows best.
wassalam
Faraz

Checked & Approved by Faraz Rabbani