ِسْمِ ٱللّٰهِ ٱلرَّحْمٰنِ ٱلرَّحِيمِ
What can bank interest money be used for?
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According to most Ulema of the Ahle Sunnat the “interest” received from banks in Darul Harb (non-Islamic country) is not the prohibited Riba (usury). It is Halaal money and can be used for any permissible activity. There are a few Sunni scholars though who regard this “interest” as unlawful, hence those who follow them also regard it as improper and give it out as unlawful wealth. Nevertheless, it should not be given out or used in even Haram activities like gambling etc.
Allah and His Rasool know best.
Darul Iftaa
Islamic Lifestyle Solutions
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