Darul Iftaa Mahmudiyyah

I have some money in the bank and did term deposit and it has some interest on it. I would like to use that interest in charity is that acceptable in Islam could you please give me more information regarding this.

· 12 Shawwal 1433 AH1 min readFatwa 22162English

Question

I have some money in the bank and did term deposit and it has some interest on it. I would like to use that interest in charity is that acceptable in Islam could you please give me more information regarding this.

Answer

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

JazakAllah for your question.

Kindly refer to the answer on dispensation of interest monies at the following link: http://askimam.org/public/question_detail/21518

And Allah Ta’āla Knows Best

Moulana Ismail Desai,
Student Darul Iftaa
Durban, South Africa

Checked and Approved by,
Mufti Ebrahim Desai.

Answered by
Moulana Ismail Desai
Checked & approved by
Mufti Ebrahim Desai
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Source: Darul Iftaa Mahmudiyyah — https://askimam.org/public/question_detail/22162
Fatawa SA: https://fatawa.co.za/fatwa/askimam-22162

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