Source: http://qa.muftisays.com/?2374
Question ID: #2374
 
Question: bank shares
respected muft saab

asalamualikum,

i have recieved money from bank shares, what i can i spend this money on? can i spend on someone who is entitiled to zakat? or on relatives who need health treatment?
or any other suggestions?
jazakallah
 
 
Answered by: Ulamaa ID 04 (London)
Date: 17/09/2006 18:59pm

Bismillah

Al-jawab billahi at-taufeeq (the answer with Allah's guidance)

Receiving money from the bank shares etc, is Riba (usury) a Haram form of income.

Therefore, one should dispose of any type of Haram funds like bank shares etc.

The Haram income should be given into the ownership of deserving poor Muslim recipients without any intention of reward. Riba money will thus be disposed of without any intention of gaining reward, to those needy Muslims who are eligible to receive Zakat.

Please also refer to:
http://qa.muftisays.com/index.php?viewpage=viewQA&question=23

And Only Allah Ta'ala Knows Best.
Mufti Qamruzzaman

London, UK
 
www.MuftiSays.com