The servant repents from usurious transactions that are still ongoing between him and people
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The third question of Fatwa No. ( 7521 )
Q3: If a person engaged in a usurious transaction, and he has a profit with people that is in excess of the principal, and then he repents, what is the ruling on the profit that remains with the people, does he take it or is it forbidden for him? Some people say: the profit that remains with the people is forbidden for him, and they cite a verse:[Al-Baqarah 2:279] that indicates this. What is the ruling on the profit that he had previously received from the people, how should I deal with it? We want the answer to all of this, knowing that the usurious transaction mentioned is genuine riba, and I have heard from scholars an answer to something like it that it is riba, and I have become convinced that it is riba, and I want something that will set me right before Allah (Glorified and Exalted is He).
A3: First: If the servant repents from the usurious transaction while it is still ongoing between him and the people, it is obligatory for him to take back only his principal, and he must leave the usurious increase; in compliance with the saying of Allah the Exalted:[Al-Baqarah 2:279] .
Second: If he has taken back the value of the usurious transaction along with its profit, it is obligatory for him to take possession of only his original principal, and the usurious profit is to be spent in the causes of righteousness. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q3: If a person engaged in a usurious transaction, and he has a profit with people that is in excess of the principal, and then he repents, what is the ruling on the profit that remains with the people, does he take it or is it forbidden for him? Some people say: the profit that remains with the people is forbidden for him, and they cite a verse:
But if you repent, you may have your principal
وَإِنْ تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْA3: First: If the servant repents from the usurious transaction while it is still ongoing between him and the people, it is obligatory for him to take back only his principal, and he must leave the usurious increase; in compliance with the saying of Allah the Exalted:
But if you repent, you may have your principal
وَإِنْ تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْSecond: If he has taken back the value of the usurious transaction along with its profit, it is obligatory for him to take possession of only his original principal, and the usurious profit is to be spent in the causes of righteousness. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.