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The question

What is the ruling on giving bank interest as charity after a friend stated that Islamic banks deposit their funds with conventional banks and earn interest on them?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

Usury (Riba) is forbidden by Islamic law, and its danger to the individual and society is immense. It is deprived of blessing, and whoever engages in it is warring against Allah and His Messenger. Such a person will be resurrected on the Day of Judgment like one afflicted by madness. It is not permissible to keep money in usurious banks except out of extreme necessity, even if one intends to donate the interest, because donating the interest does not remove the prohibition of the usurious transaction. The forbidden interest must be disposed of by spending it on the благосостояние of Muslims or giving it as charity to the poor, along with sincere repentance. This is not considered a charity for which one will be rewarded. One must seek out legitimate alternatives for preserving and developing wealth, such as Islamic banks with permissible transactions or investing in projects.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
93265
Imported
Translation status
Source text, unreviewed
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