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Interest money from bank

Answered according to Hanafi Fiqh by DarulIftaBirmingham

 

Interest money from bank.

 

In the name of Allah, the most Beneficent, the most Merciful.  

 

Answer

 

The recipients of interest money are the poor and destitute. Some scholars have said that one may use the interest money to make toilets for the poor or to repay an interest based loan. However, it is preferable to give interest money to the poor without the intention of reward (thawab). (Raddul Muhtar p.553 v.9 & Jadeed Fiqhi Masaail p.406 v.1)

 

Only Allah Knows Best

 

Mohammed Tosir Miah

 

Darul Ifta Birmingham

This answer was collected from DarulIftaBirmingham.co.uk, which is run under the supervision of Mufti Mohammed Tosir Miah from the United Kingdom.

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