Disposing of the interest from riba banks
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The questioner:
Honorable Shaykh, may Allah grant you success. A man says: He deposited his money in a bank as an investment, and after several years, his money increased and grew. He wanted to take it out, but his son informed him that this is riba (usury or interest) and is not permissible, so he left it. Then some people advised him not to leave this money, because it would be assistance for the believers; he should take it all, then take only his principal, and use the rest to buy housing for students of knowledge, or build a mosque, or print books. Should he follow the advice of these people?
The Shaykh:
No, he is buying problems for the students of knowledge with riba, buying for them with riba, or printing books with riba. This is not permissible. But he should put it in general projects, placing this money in general projects from which everyone benefits, like lost money that has no owner, which is placed in general projects. And the question...
The questioner:
The question, may Allah preserve you, says: Some of them mentioned to him...
The Shaykh:
Whoever has money from riba has two cases. The first case is that he has repented to Allah from this riba and wants to get rid of it. Then he places it in general projects that benefit everyone and gets rid of it. Or he leaves it and does not take it; he leaves it in the bank[Al-Baqarah 2:279]. He takes his principal and leaves it in the bank.
The second case is if he says: I deal with the bank and invest, but I do not want to take any of the interest for myself; I want to take it and give it in charity. This is haram (forbidden) and not permissible. Charity from riba is not permissible. Charity from illicit earnings and from riba is not permissible.
This is only for the one who has repented and abandoned riba and has money he wants to get rid of. As for you, if you say: I will not work, and I will not give us the interest; I will give this to the needy people, this is haram (forbidden) and not permissible. Because charity from riba is not permissible. Allah does not accept charity from riba or from what is haram (forbidden). Yes.
Honorable Shaykh, may Allah grant you success. A man says: He deposited his money in a bank as an investment, and after several years, his money increased and grew. He wanted to take it out, but his son informed him that this is riba (usury or interest) and is not permissible, so he left it. Then some people advised him not to leave this money, because it would be assistance for the believers; he should take it all, then take only his principal, and use the rest to buy housing for students of knowledge, or build a mosque, or print books. Should he follow the advice of these people?
The Shaykh:
No, he is buying problems for the students of knowledge with riba, buying for them with riba, or printing books with riba. This is not permissible. But he should put it in general projects, placing this money in general projects from which everyone benefits, like lost money that has no owner, which is placed in general projects. And the question...
The questioner:
The question, may Allah preserve you, says: Some of them mentioned to him...
The Shaykh:
Whoever has money from riba has two cases. The first case is that he has repented to Allah from this riba and wants to get rid of it. Then he places it in general projects that benefit everyone and gets rid of it. Or he leaves it and does not take it; he leaves it in the bank
you may have your principal - [thus] you do no wrong, nor are you wronged.
فَلَكُمْ رُءُوسُ أَمْوَالِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَThe second case is if he says: I deal with the bank and invest, but I do not want to take any of the interest for myself; I want to take it and give it in charity. This is haram (forbidden) and not permissible. Charity from riba is not permissible. Charity from illicit earnings and from riba is not permissible.
This is only for the one who has repented and abandoned riba and has money he wants to get rid of. As for you, if you say: I will not work, and I will not give us the interest; I will give this to the needy people, this is haram (forbidden) and not permissible. Because charity from riba is not permissible. Allah does not accept charity from riba or from what is haram (forbidden). Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، 10 من 86 /شرح كتاب إغاثة اللهفان في مصائد الشيطان/صلاح القلب/صالح الفوزان/العقيدة/كبار العلماء — youtube.com (38:54)
The Arabic text is a machine transcription of the audio recording.