Putting money in a commercial bank

Question: 145780

Im a new muslim convert, and before i converted i deposit a money in a commercial bank with interest, there is no islamic bank in my place can i use the interest in paying my relatives tuition fees for they are not capable of doing so.

Praise be to Allah, and peace and blessings be upon the Messenger of Allah and his family.

Firstly:

Putting money in riba-based banks is a haraam action, and
there is no concession allowing it except in cases of necessity; in such
cases it should be limited to putting it into a current account without
taking any interest on it. This has been discussed previously in the answer
to questions number 104349,
23346,
49677.

Secondly:

The riba or interest that is received from putting money in
the bank is riba which is haraam. Hence you have to get rid of it by
spending it on various charitable causes. The owner of the money does not
have the right to use it for his personal benefit or for the benefit of
those on whom he is obliged to spend, such as his parents, children and
wife.

But if your relatives are those on whom you are not obliged
to spend, such as if they are your siblings or other relatives, there is
nothing wrong with paying it on their behalf as fees to register them in
school. There is also nothing wrong if you give this interest to them to
spend it on their various needs, especially since they are poor and needy.

See also the answer to questions
292 and
81952.

And Allah knows best.

Source:

Islam Q&A

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