Question on Interest
Assalaamu alaikum,
I received an award of RBC Royal Bank’s Roytrin Units a couple years ago. I don’t know where the interest comes from so I consider it haram wealth until proven otherwise. I would like to close the account and give the money to charity.
Will there be any reward for this?
Can I give it to any cause, or is there a preferred way of disposing questionable wealth? Jazak Allahu khair for you time and your effort.
Wa Alaikum Assalaam,
الجواب و بالله التوفيق
The fact that it is interest means that it is unlawful wealth regardless of where it may come from. As such, you should give out the money to anyone in need without the intention of charity or receiving rewards. Since it is not lawfully earned income, there will be no reward in doing this.
You should not give it for any ‘good cause’ like that of an ‘Islamic cause’. The preferred way of disposing it is to give it to someone who is in need, whether Muslim or non-Muslim.
And Allah Knows Best.
Mufti Waseem Khan.
29/06/16.