• Transactions & Dealings >> Interest & Insurance

    Question ID: 37716Country: India

    Title: Hadhrat I got interest money from my saving account around 56000=00. I told this to my friend who keeps doing deen work

    Question: Hadhrat I got interest money from my saving account around 56000=00. I told this to my friend who keeps doing deen work. Now he is asking me to construct a compound wall which is around 2 acres which has been allotted to qabrastan by Waqf Board at Vadarpalya around 35 km from city at Kanakapura road. My Friend also says that this money can be given to person in that village and make him malik of that money and through him we can construct the wall. He is also asking others to give whatever amount is available as like zakah, etc. Adjacent to the 2 acres land Hindus have started burying on govt. land and are trying to acquire our land. Kindly guide as to what is to be done.

    Answer ID: 37716

    Bismillah hir-Rahman nir-Rahim !

    (Fatwa: 596/506/B=1433) The interest money derived from saving account is haram and malicious. Its right use as per the Islamic Faqih is to give it in charity to the poor, needy, miserable debtor etc without the intention of reward. It is not lawful to spend it in construction work as it does not carry the provision of tasadduq (tamlik). Yes, if that interest money (less than the quantity of nisab) is given in the possession of some poor person then he spends it in the construction of graveyard, then it is allowable. But it is not lawful to collect zakah money for this purpose and spend it after this process of hila.

    Allah (Subhana Wa Ta'ala) knows Best

    Darul Ifta,

    Darul Uloom Deoband, India