Offsetting interest with interest;nailpolish

Question ID: 39295
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slms Mufti Saheb

I have recently opened up an account with the intention of gaining interest . the interest gained is being used to offset interest that was accumulated on a loan i had .

Is this permissible?

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Asked on July 1, 2009 12:00 am
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Private answer
No - intention makes it Haraam. Put your money for safe keeping, then the interest incured use.
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Answered on July 1, 2009 12:00 am