Can a person give charity with interest money?
Question
Q. I closed an interest bearing account which accumulated interest. Can I keep the interest money and give it in charity after 3 Months?
Answer
The ruling regarding any Haraam wealth acquired including interest, is that it must be returned to its original owner if possible. If it is not possible to return it to its original owner, it must be disposed of immediately and given in charity to poor and needy Muslims (zakat eligible recipients) or non-Muslims (equivalent to zakat eligible recipients) without the intention of reward.
The reason for disposing of Haraam wealth/interest immediately is to distance oneself from the earnings of such ill-gotten wealth and the wrath of Allah associated with it. The longer a person keeps Haraam/interest money in his/her possession, the more potential it has to bring harm to a person. (Shaami 6/385 – Nizaamul Fataawa 1/185)
And Allah Ta’ala Knows Best
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