Question Summary:
I want to open an interest account to give interest money to poor people, is it allowed? Can I use this interest money for my parents, especially for Hajj? Question Detail:
I have current account in the bank and the money is just sitting there. I want to open an interest account to give interest money to poor people, is it allowed? Can I use this interest money for my parents especially for Hajj?
Answer :
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As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
As a general rule, no Muslim by his free choice should invest or deposit his money in an interest-bearing scheme or account [i].
While it may seem practical at first that interest money can be used to help poor people, the Quran makes it clear that dealing with interest brings serious ramifications no matter what apparent benefit we perceive:
يَمْحَقُ اللَّهُ الرِّبَا وَيُرْبِي الصَّدَقَاتِ
Allah destroys interest and nourishes charities (Quran, 2:276)
The Prophet (salallahu alayhi wa sallam) in an authentic hadith said:
إن الربا وإن كثر عاقبته إلى قل
Verily interest even if it is more, its ultimate end will be less [ii].
The commentators of the Quran state that Allah erases the gains obtained through riba (interest) or takes away its barakah (blessings), while the one who gives sadaqah (charity) experiences an increase in his wealth or barakah (blessings).
Contentment, bliss and happiness are intangibles that can be acquired by earning through pure, lawful means and giving through pure, lawful means while observing the other obligations of Islam. That is the goal of every person, rich or poor, believer or non-believer – to be happy and enjoy a blissful life. So give from your halal, pure wealth and may Allah fill your life with contentment, bliss and happiness, and may Allah make your sadaqah effective and blessed for the receiver as well. Ameen.
Help the poor without resorting to interest-bearing accounts. Obligatory donations such as Zakat and non-obligatory monetary assistance such as sadaqah, in-kind gifts, entrepreneurship schemes, scholarship funds, and other avenues can and should be utilized to assist our brothers and sisters in need.
As for your parents, they should given the best of your lawful and pure wealth. The money you give to them can be used to pay for Hajj, daily expenses, or any lawful thing they require.
In the event that they are eligible to receive Zakat, you cannot give them your Zakat money.
The following authentic hadith displays the importance of financially assisting our parents to the best of our abilities [iii].
جاء رجل إلى النبي صلى الله عليه وسلم فقال إن أبي اجتاح مالي فقال أنت ومالك لأبيك وقال رسول الله صلى الله عليه وسلم إن أولادكم من أطيب كسبكم فكلوا من أموالكم
A man came to the Prophet (salallahu alayhi wa sallam) and said: My father took away my wealth. So he (salallahu alayhi wa sallam) said: “You and your wealth belong to your father” and the Prophet (salallahu alayhi wa sallam) said “Your children are from amongst your purest earnings so eat from your wealth”
And Allāh knows best.
Mawlānā Sohail Bengali
Chicago, IL (USA)
Concurred by:
Muftī Abrar Mirza
Chicago, IL (USA)
Under the Supervision of:
Muftī Ebrahim Desai
South Africa
[i] Contemporary Fataawa, Mufti Taqi Usmani, pg. 242, Publisher: Idara-e-Islamiyat
[ii] فتح الباري لابن حجر كِتَاب الْبُيُوعِ باب يمحق الله الربا ويربي الصدقات والله لا يحب كل كفار أثيم
[iii] ابن ماجة - أبواب التجارات - باب ما للرجل من مال ولده - الرقم ٢٢٩٢
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