How to Dispose of Interest Money?

Fatwa ID: 03308

Answered by:  Alimah Nasima Umm Hamza​

Question

I have some interest money in my bank account which I want to dispose of.  What is the best way to get rid of it?  Can I use it for my garden work to pay wages and repair the toilet outside or give a beggar not expecting a reward?

 

بِسْمِ اللهِ الرَّحْمنِ الرَّحِيْم

In the name of Allah, the Most Gracious, the Most Merciful 

 

Answer

 

It is not permitted to benefit in any way from interest money, as it is unlawful money and does not belong to you. Therefore you cannot use it to pay wages or repairs. Rather the correct way to dispose of it is to give the money away to the poor without the intention of reward. (Raddul Muhtar p.553 v.9)

 

Only Allah knows best

Written by Alimah Nasima Umm Hamza

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

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