Disposing of interest money accumulated by a body corporate

Answered according to Hanafi Fiqh by Muftionline.co.za
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Q: I would like to query the issue below:

I am part of a body corporate of a complex based. The body corporate has been in place for about +/- 12 years and it has been run by the Muslim men of the complex. The complex comprises of various owners, Muslim and non-Muslim.

We have recently moved our banking over to FNB Islamic banking. Prior to this, we have accumulated an amount of +/- R22 000 interest money which we had kept aside after the move to Islamic banking. The body corporate is non-profit and we only act in the best interest and upkeep of the complex.

We as the body corporate would like to query if it is permissible or not to use this interest money as this money belongs to the complex which comprises of Muslim and non Muslim owners. We as the body corporate are held liable for the money of the complex.

The investment account which the interest was accumulated from was only opened as this is a law according to the CSOS act which is government regulated.

Please advise the correct manner/s in which this interest money should be dealt as we would like to make the correct decision going forward.

Bismillaah

A: My suggestion is that let it be known to the complex owners that Muslims don’t take interest. If the non-Muslims wish to take their proportionate amount then they may take it for their personal use. And your portion and the portion of the Muslims who are in agreement with you should be taken out and given out in sadaqah to poor and deserving individuals without the intention of thawaab.

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

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

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