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The question

Is it permissible for a shareholder in a company that deposited an amount in an interest-based bank to obtain tax and customs exemptions, and whose General Assembly decided to dispose of the usurious interest, to distribute this interest to the poor and needy, or to needy relatives and neighbors? And is it permissible for him to use it to pay off his debt or the debts of his sisters, or to help them with medical treatment due to their difficult financial circumstances?

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

Usurious interest must be spent on the welfare of Muslims, such as aiding the poor and establishing schools and hospitals. The person in charge of disbursing it must consider what is most beneficial, without favoritism, because an agent or guardian acts in the best interest of the one for whom they are deputized. It should be noted that depositing money in a usurious bank to obtain tax or customs exemptions is not permissible, even if these taxes are unlawful, because payment to protect one's money and self must be made through permissible means, not through forbidden ones.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
65433
Imported
Translation status
Source text, unreviewed
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