Riba/Usury in my Bank Account
  • Question:

    My question is regarding the interest money that is credited in my salary account. Every month end my salary is credited to my savings account. Bank pays interest on the savings every 3-4 months. As I know that interest is Haram, I don't use that money for my personal use. I give the interest money to poor people.

    Is it a sin for me that I get interest money in my salary account ?
    Can I give that interest money to some poor Muslim ?
    Can I give that money for any masjid construction ?
    What is the best I can do with that interest money ?

    Assalamu Alaikum wa rahmatullahi wa Barakatuh

    Thank you for your question.

    May Allah reward you for your concern regarding religious matters.

    You are encouraged to set up an account that does not generate riba (interest or usury) as this is a Qur’anic prohibition.
    “Allah has permitted trade and has forbidden usury. Allah will deprive usury of all blessing, and will give increase for deeds of charity.” (Qur'an 2:275)

    If usury is accumulated, then it will be disposed of by giving it to the poor in charity, without any intention or hope of reward.

    There is a report that indicates Abu Bakr (may Allah be pleased with him) made a two way bet, prior to the prohibition of gambling with a disbeliever. The wealth resulting from wining this bet was given to Abu Bakr (may Allah be pleased with him) after the prohibition of gambling. Thus, he brought it in the presence of the Prophet (peace and blessings upon him) who instructed, “This is prohibited. Give it in charity (sadaqah)” (Ibn Asakir)

    You are not to donate such money towards the construction of a masjid, as only clean and pure money is used to build a mosque. A mosque is also a public facility utilized by both the rich and the poor.

    And Allah knows best.

    Answered by Shaykh Yusuf Badat
    Hadith of the Day Imam
    Imam of the Islamic Foundation of Toronto and Director of Mathabah Institute
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