Ruling on using the returns on investment certificates for postgraduate education

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As-Salaamu-Alaikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)
One of our brothers/sisters has asked this question:

Is it permissible to use the returns on investment certificates that my father did for me to pay for my education, especially postgraduate studies such as a master’s degree?

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Praise be to Allah.

All kinds of investment certificates issued by riba-based banks are haraam, as we have explained in fatwas no. 98152 and 126073

Based on that, the returns that come from dealing in these certificates that your father made in your name, are haraam, and it is not permissible for the owner to make use of them in paying any of his expenses. 

What you have mentioned about postgraduate education is one of your expenses, so your father does not have the right to spend on you for that purpose from haraam wealth, and you do not have the right either, if the certificates are your name, to make use of the haraam returns. 

If they are not in your name, then you should not take anything for your expenses from haraam wealth, even if your father is giving it to you. Rather what you should do is rid yourself of these returns by giving them to charitable causes or spending them in the public interest, as we have explained in fatwa no. 128641

What you must do now is encourage your father to repent from these haraam transactions, and get rid of the riba-based contracts and dealings, because riba is one of the gravest and worst of major sins. Allah, may He be exalted, says (interpretation of the meaning):

“O you who believe! Fear Allah and give up what remains (due to you) from Ribaa (from now onward) if you are (really) believers.

279. And if you do not do it, then take a notice of war from Allah and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums)”

[al-Baqarah 2:278-279]. 

And Allah knows best.

Whatever written of Truth and benefit is only due to Allah's Assistance and Guidance, and whatever of error is of me. Allah Alone Knows Best and He is the Only Source of Strength.

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