Yasir Qadhi – Is a 401K Repayment Penalty Haram – Ask Shaykh YQ #237
AI: Summary ©
A customer is upset because their employer requires them to put money back into their 401k account for a personal reason. The customer questions if the penalty is for putting money back into the account, and the agent explains that there is no third party involved and no penalty is associated with putting money back into the account. The agent suggests that the customer wait until they can get their money back before making any further decisions.
AI: Summary ©
brother thought emails, brother thought of emails from New Jersey and says he has a 401k retirement and he is in need of dipping into his own account for a personal reason he has to take that money. However, his company requires that when he gives that money back he must put extra into that account as a penalty. He asks Is this interest is it allowed for him to do this 107 mean Kobe league in Region No He lay him first earn Oh lickity
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the response very simply, it is not interest at all because it is going from your pocket to your pocket. There is no third party involved. Not every penalty is interest when the penalty is for you and upon you and to you. There is no interest and that is that very simple answer there. Yeah.