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

Related Questions

Q. Health Insurance provided by Company. Being working at public quoted company in Sri Lanka, I am entitle for some allowances and benefits which company provides for all its staff. Health Insurance Scheme also one of such benefit. Below are its basic features. 1)It is open to all employees under Staff Benefit theme. 2)In order to subscribe to this health insurance policy, company doesn?t deduct any amount from our salary since it is deemed as Staff Benefit. 3)Our company pays LKR 11,000 p.a. to Insurance Company as a premium for the policy. 4)If we hospitalized, the total claim would LKR 250,000 p.a. Out of which, first LKR 150,000 is paid by Insurance Company and balance LKR 100,000 is paid by my company itself. If I hospitalized, can I claim from this scheme? I am expecting FATWA from you please. 2421 views
Q. 989 views
Q. Credit Card Issue 20069 views
Q. Please help us to find the right way in our life. I am a software engineer working for a software company. The focus of our software company is banking field and most of the clients are banks. The problem I am facing now is that the project that I am working is for banking software and the bank that I am working is not Islamic bank. The software that I develop or involved is used by the Bank to open account on-line through internet,applying on-line application for credit card, to view the Interest rates on internet for checking account, saving account and fixed deposits, etc.. I ask you to guide me whether doing work for a bank is haram (unlawful) even though I am not directly working for the bank and salary is given by my company, not the Bank. 1505 views
Q. I am staying at my fatherÂ’s house we are four brothers at this point of time i am the only married son my brothers will be getting married soon so to avoid the family clashes i am planning to buy a new house but to purchase the flat i have to take loan from the bank so in this case taking a loan from bank will be halal or haram. 1818 views
Q. Use of interest money 1462 views
Q. Can we use the interest money to clean the grave yard? 1365 views
Q. I want to take a mediclaim policy from any health insurance company. Is it right or wrong according to Islamic Shariah? Please give me reply. 2580 views
Q. Medical Insurance Benefit 2740 views
Q. Paying interest from interest amount 4069 views
Q. Could you pls let me know -Is claiming CAR Insurance for repairs permissible in Shriah or not?. Every year I pay RS 10000 as CAR insurance but till now I have not claimed the money when every I use to get the CAR repaired. May Allah reward you for the your services. 1545 views
Q. Interest 1029 views
Q. My company provides medical benefit for a couple and two children.Comapany pays insurance premium for all of them.Currently company is providing medical benefit of Rs 5000/- for normal medical treatment and Rs 45,000/- for Hospitalization. Please let me know whether I can avail this benefit? Also company is proving higher medical benefit of Rs 5 lakh for hospitalization but we need to pay premium to avail this benefit. Please let me know whether I can avail this benefit? 2082 views
Q. Interest received from a non Islamic bank into my account .. Does the interest given to the poor physically have to be from that account or can the equivalent interest amount be given from another account or other savings. 1690 views
Q. I have KARZ of some amount on a person from more then 5 yeears. and i have been telling him time time to pay my money.and now he want to pay me. i know that the money he he want to pay me, he took from tha bank by enterest (riba), and now ginving me, so pls tell me that it is JAEZ for me to take my KARZ from him, which i know his money is haram. 1593 views

Total Questions: 9181

Faiths & Beliefs

Miscellaneous

Prayers & Duties

Social Matters

Transactions & Dealings

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?

Related Questions