Question Summary:
Kindly advise how interest money can be used

Question Detail:

Kindly advise how interest money can be used

Answer :

In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In principle, interest monies should be dispensed to the poor and needy, whether they are Muslims or non-Muslims without the intention of reward since such money is tainted.[1]
Interest money can also be given to one’s poor relatives who are the valid recipients of Zakaat, charitable organizations and Islamic Institutions.[2]
 
 
And Allah Ta’āla Knows Best                                       
Ismail Desai,
Student Darul Iftaa
Durban, South Africa
Checked and Approved by,
Mufti Ebrahim Desai.