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I have my money in a bank where you can put your money in a savings account or current account. The bank gives interest every 1 January for both accounts, but current account has lower percentage interest compared to savings account. In Islam, interest/riba is haram,so I contacted the bank and asked if there is any way to avoid the interest but they say no. I could change banks, but I live in Sweden and here there is no Islamic bank, and all banks give interest. All major banks (and maybe all minor banks) in Sweden have introduced 0.25-0.30% interest on current accounts. I know of a small bank that doesn't give interest on current account but I don't know if I can trust them with my money. Can I wait and receive the interest and then donate it, or will I still be punished for it? I don't know what to do and am very afraid that this is not allowed.

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  • What's the problem? If you don't want the money, just donate it to some good and haram use. Dec 17, 2023 at 19:51
  • There is another point, far more complex than riba: what is money? In the times of the Prophet, money was pieces of gold, silver and copper in varying size and quality. nowadays money is, to speak out dirty, a number printed on a piece of paper. It is the law behind it that makes it a currency whit which you can buy things. Dec 17, 2023 at 19:59
  • Does this answer your question? How to cope with interest payed by banks?
    – UmH
    Dec 18, 2023 at 4:36

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Utilizing interest from non Muslim is allowed.

only receiving interest from Zammi non Muslims (کافر ذمی) is not allowed. and they are non Muslims living under an Islamic state and paying Islamic tax (جزیه).

Reference

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