Transactions & Dealings >> Interest & Insurance

Question ID: 63669Country: India

Title: Use of interest money

Question: I have a question can I give my bank interest to my poor daughter’s son for school fee? Give guideline to give my interest to whom we can give money?

Answer ID: 63669Posted on: Aug 31, 2020

Bismillah hir-Rahman nir-Rahim !

(Fatwa: 350/350/B=05/1437) In case your daughter’s son is poor then give the amount into his complete possession. He can pay his school fees with this interest amount. It is allowed as per the Shariah. You may also give interest money to any destitute and needy person.

Allah (Subhana Wa Ta'ala) knows Best

Darul Ifta,

Darul Uloom Deoband, India

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Title: Use of interest money

Question: I have a question can I give my bank interest to my poor daughter’s son for school fee? Give guideline to give my interest to whom we can give money?

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