Is a 401K Repayment Penalty Haram - Ask Shaykh YQ #237

Yasir Qadhi

Muslim Central

Islam, Society & Culture, Religion & Spirituality

4.8 • 1.3K Ratings

🗓️ 31 October 2021

⏱️ 2 minutes

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0:00.0	This audio is brought to you by MuslimCentral.com
0:04.6	Brother Todd e-mails
0:06.8	Brother Todd e-mails from New Jersey and says
0:09.8	He has a 401k retirement and he is in need of
0:15.0	Dipping into his own account for a personal reason. He has to take that money
0:20.0	However, his company requires that when he gives that money back, he must put extra into that account
0:27.2	as a penalty
0:29.1	He asks is this interest? Is it allowed for him to do this?
0:33.2	And we have not sent a message before you
0:39.2	who has come back to them
0:44.2	So ask them
0:56.2	The response very simply
0:58.2	It is not interest at all
1:00.2	because it is going from your pocket to your pocket
1:04.2	There is no third party involved
1:06.2	Not every penalty is interest
1:08.2	When the penalty is for you and upon you and to you, there is no interest
1:12.2	And that is that very simple answer there

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