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If I open a conventional savings account, the amount I will deposit will be my hard earned money (Halal). But the interest/profit generated from this will be given to poors

Q:

Assalam o alaikum,
I want your opinion and guidance on below matter:
If I open a conventional savings account, the amount I will deposit will be my hard-earned money (Halal). But the interest/profit generated from this will be given to poor ( those who have no money for treatment and education/food.)
I will not use a single ruppee of interest.
I am already doing charity/sadqa as much as possible.
is this justifiable? or I can not do this.

Regards

A:

Wa Alaykumussalam

Thank you for your query.

Wherever you live, you can read the below rulings and act accordingly depending on the Bank to be Muslim or non-Muslim, governmental or private.

The below rulings about interest are according to Ayatullah al-Udhma Sayyid Ali Sistany:

Question: Is it permissible to take interest from unbelievers, especially for those who live in a non-Muslim country?

Answer: It is permissible to receive interest from non-Muslims and their banks.

Question: If I know that the bank will give me interest even without stipulating the conditions, is it permissible for me to deposit in a savings account that takes the form of a term-deposit?

Answer: Yes, it is permissible, as long as you do not stipulate the conditions of interest.

Question: Is it permissible to deposit or borrow money from Muslim banks whereby the interest is either received or paid out?

Answer: It is permissible to deposit money in a bank without prior condition for interest and it is as well permissible to take interest, if the bank in which money is deposited belongs to Muslims. If it belongs to government, it is permissible to take interest provided that half of the interest is given away to poor people (Momineen of them).

Question: Is it permitted to pay interest to non-Muslims and also take interest from them?

Answer: Giving interest to a non-Muslim in a deal that is based on interest is impermissible and receiving it (interest) is permissible and there is no objection in it.

www.sistani.org/english/qa/01220/

May Allah(swt) grant you success and increase your Tawfiq to help the poor and needy.

Wassalam,

Syed Haider