Giving money from one’s own funds and keeping the interest money

Question

Question: My practice is that whenever interest money is entered in the passbook, I set the interest amount aside, and the principal remains in the passbook. But I have no inner conviction (sharh sadr) in this matter; I have a doubt, the basis of which is that in buying and selling the goods become specified, whereas the price (thaman), that is, money, does not become specified — I have probably read it this way.

Answer

The upshot of the analogues you have presented is indeed what you understand it to be. However, wealth that is given under the name of interest — whether or not it is owned by the one giving it — outwardly falls under the term “interest”, for which there is the threat of being cursed. The upshot will then be that he gave lawful wealth in charity (sadaqa)

Source: Fatawa Mahmudiyya

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