Accumulating interest for Sadaqah
| Fatwa #670 | Category: Business & Trade | Country: Zambia | Date: 4th August 2021 |
| Fatwa #670 | Date: 4th August 2021 |
| Category: Business & Trade | |
| Country: Zambia | |
Question
Assalamualaikum,
Is it ok to have interest bearing accounts and use the interest earned for Sadaqah or to help out poor people?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
We take note of your noble intention to assist people through Sadaqah.
Whilst the intention in reference is noble, it is incorrect to commit a sinful act to perform a virtuous deed. For example, it is incorrect for one to steal with the intention of feeding the poor and needy with the stolen money.
In principle, every transaction that involves interest is Haraam. Accordingly, undertaking an agreement with a bank to open an interest accruing account is also Haraam.
Apart from such accruing accounts not being permissible, interest comes with lots of grief and negative consequences, which is actually a la’nah (curse) from Allah Taalah. [1]
Where interest free banking facilities are available, it is not permissible to utilise an interest accruing bank account. Using such an account is tantamount to wilfully engaging in interest without need or necessity. It is an individual’s duty to request his bank to provide such facilities or else move his account to a bank providing such facilities.
Where interest free banking facilities are not available, if one uses the interest related facilities of a bank out of necessity and the account accrues interest, one will not be sinful for that Insha-Allah. The purpose was to use the banking facility and not to earn interest. However, the interest monies accrued should be disposed of as soon as possible without the intention of reward.
And Allah Ta’āla Knows Best
Mufti Muhammad
Checked and Approved by
Mufti Nabeel Valli
Darul Iftaa Mahmudiyyah
Lusaka, Zambia
الهداية في شرح بداية المبتدي (3/ 61) [1]
لأن الربا هو الفضل المستحق لأحد المتعاقدين في المعاوضة الخالي عن عوض شرط فيه
الدر المختار وحاشية ابن عابدين (رد المحتار) (5/ 169)
لأن الربا هو الفضل الخالي عن العوض، وحقيقة الشروط الفاسدة هي زيادة ما لا يقتضيه العقد ولا يلائمه فيكون فيه فضل خال عن العوض وهو الربا بعينه اهـ ملخصا
الدر المختار وحاشية ابن عابدين (رد المحتار) (5/ 166)
(قوله كل قرض جر نفعا حرام) أي إذا كان مشروطا كما علم مما نقله عن البحر، وعن الخلاصة وفي الذخيرة وإن لم يكن النفع مشروطا في القرض، فعلى قول الكرخي لا بأس به
الدر المختار وحاشية ابن عابدين (رد المحتار) (6/ 385)
ويردونها على أربابها إن عرفوهم، وإلا تصدقوا بها لأن سبيل الكسب الخبيث التصدق إذا تعذر الرد على صاحبه
رد المحتار -ط. بابي الحلبي (5/ 99)
والحاصل أنه إن علم أرباب الأموال وجب رده عليهم وإلا فإن علم عين الحرام لا يحل له ويتصدق به بنية صاحبه