How Should Interest Money Be Disposed Of?
Answered by Mawlana Ilyas Patel
I have about £415, which is earned through interest. This has been invested in the stock market, and I know we should dispose of interest money by giving it to charity.
My question is if in my wages, if I get to £415 and donate it, will my wealth be cleansed from interest money, or do I have to exactly give the interest money to a charity that is invested in the stock market?
In the Name of Allah, the Most Merciful and Compassionate.
I pray you are in good faith and health.
You can give the earned £415 to charity and not worry about anything else. Your wealth will be cleansed from interest money. Just seek forgiveness from Allah Most High and repent unto Him. This will suffice, in sha’ Allah. [Usmani, Fiqh al-Buyu; Ibn ’Abidin, Radd al-Muhtar]
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I pray this helps with your question.
[Mawlana] Ilyas Patel
Checked and Approved by Shaykh Faraz Rabbani
Mawlana Ilyas Patel is a traditionally-trained scholar who has studied in the UK, India, Pakistan, Syria, Jordan, and Turkey. He started his early education in the UK. He went on to complete the hifz of the Quran in India, then enrolled in an Islamic seminary in the UK, where he studied the secular and ‘Aalimiyya sciences. He then traveled to Karachi, Pakistan. He has been an Imam in Rep of Ireland for several years. He has taught hifz of the Quran, Tajwid, Fiqh, and many other Islamic sciences to children and adults onsite and online extensively in the UK and Ireland. He taught at a local Islamic seminary for 12 years in the UK, where he was a librarian and a teacher of Islamic sciences. He currently resides in the UK with his wife. His interest is a love of books and gardening.