Giving earned interest to charities and others : giving interest to conventional charity

Fatawa Question

Dear Dr. Monzer, Assalamu Alaykum Wa Rahmatullahi Wa Barakatuh, Can I get rid of bank interest through charities such as Oxfam ? Regarding bank interest, you state that this money can be donated to charities (poor) or for public projects. I for example get rid of my money through charities such as Oxfam. My intention is that this is Interest and unlawful for me, I always get a monthly statement of my bank balance and then get rid of the interest. Is this ok for me? Some say to me I am not allowed to donate this to the poor or Muslim charities since its unlawful and must be used for road maintenance etc. I can’t find any organization in the UK carrying out public projects so I chose Oxfam to get rid of this. Is this ok for me to do ? I have put the effort to prevent interest coming into this account and it has so far failed, I will In Sha Allah move to an Islamic bank account. In the meantime is what I’m doing accepted in Islam especially that many of us face many hardships living in a non-Muslim country ? Jazakum Allahu Khairan for your constant help

Fatwa

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Publication Date

2008-03-16

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Money
• Wages
• Usury
• Charity
• Charities

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-729873

• APA
• MLA
• AMA