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Posted By Topic: What to do with interest from the bank?

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08-06-2003 @ 11:01 PM    Notify Admin about this post
Posts: 204
Joined: Jan 2002


it is well known that usury is not permissible in islam, and taking it makes the muslims an enemy of Allah and His messenger;
to proceed, a problem has arisen whereby i opened a bank account, and instructed the bank specifically not to give me interest, and this, i thought, was the case having looked at my statements. however, one day i received a statement that showed that i was receiving interest, which was a very small amount. i took the statement to the bank and told them about this and the fact that i specifically instructed the bank not to give me interest. after having the discussion i told them to negate the interest and take it back, but they said that that was not allowed. this time they promised me that the interest has stopped and i have checked my statements and this seems to be the case. the question is what do i do with interest that i have received; what is the way of relieving myself from this money?

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09-06-2003 @ 2:52 AM    Notify Admin about this post
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Joined: Sep 2002

Using ribaa funds for good causes

Question: I had shares in a bank which deals with ribaa, and then I sold them and earnt a profit. And now, some time has passed and I do not know what to do with it (the profit). So what do you advise me with? And may Allaah reward you with good.

Response: In the Name of Allaah, and all Praise is for Allaah (alone). The ribaa profit can be spent on good causes, whilst you (are entitled to) keep the initial amount (of the investment). So you must spend this profit in assisting the mujaahidoon and rennovating toilet facilities, and donating to the poor and that which is similar to this.

Shaykh Ibn Baaz
Silsilah Kitaab ad-Da'wah (10), al-Fataawa - Volume 3, Page 200

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