What is the ruling on disposing of bank interest accrued from a savings account, and is it permissible or forbidden?
Depositing money in usurious banks is forbidden except out of necessity. The interest generated from it must be disposed of by spending it on the welfare of Muslims, the poor, and the needy. It is not permissible for the one who received it to benefit from it, unless they are poor and in need, in which case they may take from it according to their need. If you spent it on your needs, being unaware of its prohibition, then you are not required to spend a similar amount on charitable causes. If someone acquired unlawful money and then repented, if they were unaware of its prohibition, then it is permissible for them to consume it. But if they were aware of its prohibition initially and then repented, they should donate it as charity. Repentance erases what came before it.
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- 112787
- Imported
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