What Should I Do With Accumulated Interest Money in the Bank?
Answered by Mawlana Ilyas Patel
Question
When I save money in the bank, sometimes interest adds 1 penny to my account. I know riba is haram, and I do not know what to do. I can’t get rid of it or stop it. It just happens automatically. I can’t switch banks, stop using banks, or give it to charity as it’s only a penny, and it will not allow me to deposit it. I really would not want Allah to punish me, but I can’t do anything to stop it as I am so limited for personal reasons. What should I do?
Answer
In the Name of Allah, the Most Merciful and Compassionate
I pray you are in good faith and health. Thank you for your question and concern for the religion.
Dispose of the accumulated interest to charity without the intention for reward until you open up another account.
[Taqi Usmani, Fiqh al-Buyu’]
I would like you to go through the valuable answers and links below. You will receive guidance and direction in sha Allah.
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Wassalam,
[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.
