Riba Money: Not wanting the Bank to Benefit

I have some money in the bank, I know riba is not allowed but I don’t want the bank to benefit from me not taking the interest earned on my money, can I donate that money to Muslims and or Muslim charities.

Wa Alaykum Assalam wa Rahmatullah wa Barakatuhu,

In the Name of Allah, Most Merciful & Compassionate

Many banks do agree to take back interest they have posted to one’s account and can block it from being posted in future. As such, the best and easiest way to deal with the issue is to not accept the money in the first place, rather than to wrongly acquire money and then find ways of disposing of it.

We should explain to them, that regardless of the amount, as a matter of religious principle we do not accept a single penny of interest. When everyone does this, it also sends a clear message – it is surprising how many employees are quite impressed with such principles because not many people turn down ‘free’ money.

Wassalam,

Sunni Path QA Team

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