Mufti Online — Madrasah Ta'leemuddeen

Is it permissible to use interest earned on a bank account to donate to charity?

Published as Accumulating interest money

· 27 Dhuʻl-Hijjah 1438 AH1 min readEnglish

Question

1. Is it permissible to use interest earned on a bank account to donate to charity?

2. If so, can you then invest the interest earned into a separate bank account so as to let it accumulate so an even bigger amount can be donated in charity?

3. If not, what are some of the many ways in which one can dispose of interest received?

Answer

It is not permissible for one to intentionally accumulate interest money. However if interest money had come in ones possession unintentionally, one should immediately dispose of it through giving it to the poor without the intention of reward. It is not permissible for one to keep the interest and allow it to accumulate.

And Allah Ta'ala (الله تعالى) knows best.

Answered by
Mufti Zakaria Makada
Checked & approved by
Mufti Ebrahim Salejee (Isipingo Beach)
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Source: Mufti Online — Madrasah Ta'leemuddeen — https://muftionline.co.za/node/21840
Fatawa SA: https://fatawa.co.za/fatwa/muftionline-21840

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