The Ruling on Giving Charity with Usurious Money
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Question: We are workers from one of the Islamic countries, working in al-Madinah al-Munawwarah, and we ask about the ruling on benefiting from usurious money from banks:
First: Is it permissible for us to take usury from those banks and give it in charity to the poor, and build houses of good instead of leaving it for them?
Second: If this is not permissible, is it permissible to deposit money in those banks for the reason of necessity to preserve it from theft and loss, without receiving the usury, knowing that the bank utilizes it as long as it is there? May Allah guide your steps, benefit through you, and grant you what He loves and is pleased with.
Answer: If necessity calls for preservation through usurious banks, there is no harm in that, if Allah wills; because of His saying, the Exalted: [al-An'am: 119].
And there is no doubt that transferring through them is among the general necessities in this age, and so is depositing in them out of necessity, without stipulating interest. If interest is paid to you without condition or agreement, there is no harm in taking it to spend it in charitable projects, such as helping the poor and debtors, and the like, not to possess it or benefit from it. Rather, it is in the ruling of money whose leaving for the disbelievers harms the Muslims, while it is from unlawful earnings; so spending it in what benefits the Muslims is better than leaving it for the disbelievers, by which they assist in what Allah has forbidden.
If it is possible to transfer through Islamic banks or through permissible means, it is not permissible to transfer through usurious banks. And so is depositing: if it is facilitated in Islamic banks or Islamic stores, it is not permissible to deposit in usurious banks, because the necessity has been removed. And it is not permissible for a Muslim to deal with the disbelievers or others in a usurious manner, even if he intends not to possess the interest, but rather intends to spend it in charitable projects; because dealing in usury is forbidden by explicit text and scholarly consensus, so it is not permissible to do it, even if one intends not to benefit from the interest for oneself. And Allah is the Guardian of success.
First: Is it permissible for us to take usury from those banks and give it in charity to the poor, and build houses of good instead of leaving it for them?
Second: If this is not permissible, is it permissible to deposit money in those banks for the reason of necessity to preserve it from theft and loss, without receiving the usury, knowing that the bank utilizes it as long as it is there? May Allah guide your steps, benefit through you, and grant you what He loves and is pleased with.
Answer: If necessity calls for preservation through usurious banks, there is no harm in that, if Allah wills; because of His saying, the Exalted:
while He has explained in detail to you what He has forbidden you, excepting that to which you are compelled
وَقَدْ فَصَّلَ لَكُم مَّا حَرَّمَ عَلَيْكُمْ إِلاَّ مَا اضْطُرِرْتُمْ إِلَيْهِAnd there is no doubt that transferring through them is among the general necessities in this age, and so is depositing in them out of necessity, without stipulating interest. If interest is paid to you without condition or agreement, there is no harm in taking it to spend it in charitable projects, such as helping the poor and debtors, and the like, not to possess it or benefit from it. Rather, it is in the ruling of money whose leaving for the disbelievers harms the Muslims, while it is from unlawful earnings; so spending it in what benefits the Muslims is better than leaving it for the disbelievers, by which they assist in what Allah has forbidden.
If it is possible to transfer through Islamic banks or through permissible means, it is not permissible to transfer through usurious banks. And so is depositing: if it is facilitated in Islamic banks or Islamic stores, it is not permissible to deposit in usurious banks, because the necessity has been removed. And it is not permissible for a Muslim to deal with the disbelievers or others in a usurious manner, even if he intends not to possess the interest, but rather intends to spend it in charitable projects; because dealing in usury is forbidden by explicit text and scholarly consensus, so it is not permissible to do it, even if one intends not to benefit from the interest for oneself. And Allah is the Guardian of success.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.