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The question

Is it permissible to benefit from the profits of a savings fund (bank interest), and is it permissible to distribute them to needy relatives?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

The profits of banks are unlawful (haram) in Islamic law because they constitute usury (riba). Their prohibition is almost a consensus among contemporary scholars. Therefore, it is not permissible to own these profits because they are ill-gotten gains (mal khabith). However, they should be taken from the banks, while condemning their practice, and disbursed for the general welfare of Muslims, such as the poor and the needy. Poor relatives have a greater right to them.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
60822
Imported
Translation status
Source text, unreviewed
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