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How should we use interest money?

Answered as per Hanafi Fiqh by Darulifta Deoband Waqf
Ref. No. 921

As we know that interest is haram. some say we can use interest money into toilet but not in my personal needs. Some say that it can be given to poor girl’s marriage etc. but as we know whatever you choose for yourself also choose same things for your  Muslim brother. So how we can give them the interest money? Please answer……


Answer:

Ref. No 918 Alif

In the name of Allah the most Gracious the most Merciful

The answer to your question is as follows:

The interest money you received from the bank is Haram and you have to get rid of it by giving it to poor and needy persons as charity. The charity should be made without the intention of reward. The interest received from the bank is haram for those who are wealthy as per shariah (Sahibe Nisab), but for those who are poor and needy, the interest is not Haram but it is Halal. Since the interest money is not lawful for us so we cannot like it for ourselves. But when it is Halal for others then we like it for them. Similarly we give the zakat of our wealth to widows, poor and needy who are eligible for zakat because it is halal for them and we cannot hold the zakat amount with us because it is haram for us.  

And Allah Knows Best

Darul Ifta

Darul Uloom Waqf Deoband

This answer was collected from the official website of Darul Uloom Deoband Waqf. The institution is based in India and the answers are provided in accordance to the Hanafi Fiqh.

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