Interest
Money

Giving Interest Money to Charity

I have interest money or my bank account pays interest, what should I do?

If one has interest money from a bank account or elsewhere many scholars recommend this money is given to a charitable cause with the understanding one will not receive any reward for the donation.

Can I Donate Interest Money?

Yes, you can use it to give water, sanitation and food to the poor and the needy. You can add to it from your own money as sadaqah as long as you give it to deserving poor. Your interest money cannot go towards construction of a Mosque or printing copies of the Qur’an.

How Do I Donate My Interest?

You can donate your interest here. Scroll up, select the Donation amount , so that we may spend your interest money correctly.

As using interest for personal gain is not allowed, one should channel it towards charitable donations. While there may not be a religious incentive for this action, it serves to eliminate the haram funds in a manner consistent with Shariah principles.