Miscellanious on interest : contribution to Muslim organizations whose sources are from banks

Fatawa Question

Assalamu Alaikum, I am the treasurer of the Muslim organization on my campus. And because of our status as a religious organization a special fund was setup for organizations like ours. I asked where the money comes from and was told that through the deal that the university has with a bank, that for each university credit card that is issued the bank will give the university a fixed amount of money, I believe $ 5 per card. My question is would it be okay for us to use this money, even though it has some sort of connection to Riba ? Notes : the university has a credit card that is sponsored by master card. So the way it was explained to me was that they give to university money for every card issued. This fund is the only fund through the university that we can use and without it, it would be extremely difficult to put on our events. Please give me any information to the best of your knowledge. If anything is unclear or if you need more information please ask. I look forward to your response. Jazakumu Allah Khair

Fatwa

Click hereto view more

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Banks
• Islamic jurisprudence
• Organizations
• Usury

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-726736

• APA
• MLA
• AMA