Your banking interests can be useful
“O believers! fear Allah, and give up the remainder of the usurious interest, if you are believers” (Quran - S2 - V278)
At the end of each year, you receive the notification of accumulated bank interest during the past year. What can be good news for some becomes problematic for others who adhere to the Islamic principles which confer an illicit character to the banking interests (riba).
What to do with this money? Can we use it or should we get rid of it?
Here are some clarifications.
Muslim jurists are unanimous that this money is impure because of its illicit acquisition. They argue that the use of this money for oneself or for any other dependents is prohibited and that it is not permissible to profit from it. They add that it is also not allowed to leave the money on his own account or hand it over to the bank.
These scholars consider that the best attitude to adopt is to get rid of this money, as soon as possible, by giving it to works of public utility, the poor, orphans ... The fact of returning this money to a charity is considered as a mere gift and not as a meritorious alms (sadaqah).
Your Foundation offers you the possibility to take back your bank interest which will be considered unrestricted donations and can thus be used to finance its various solidarity projects and to cover certain management fees.
You can not only separate you from this illicit money but also allow charitable causes to be supported.
We remain at your disposal if you wish to obtain more detailed information or if you have any questions.