Sponsor an orphan for just $75 per month; that's only $2.50 per day—and transform the life of a vulnerable child.
Sponsor NowSponsor an orphan for just $75 per month; that's only $2.50 per day and transform the life of a child.
Sponsor NowSponsor an orphan for just $75 per month; that's only $2.50 per day—and transform the life of a vulnerable child.
Sponsor NowSponsor an orphan for just $75 per month; that's only $2.50 per day and transform the life of a child.
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In Islam, earning or keeping riba (interest) is strictly forbidden. However, many Canadian Muslims find themselves receiving interest from conventional bank accounts, investments, or savings. The solution is simple: donate your bank interest to charity.
By giving your accumulated bank interest to Human Appeal Canada, you can:
Ethical Use of Your Banking Interests at Human Appeal
At Human Appeal, we take an ethical approach to the use of accrued bank interest. Recognizing that riba (interest) is contrary to Islamic principles, we redirect these funds to support our fundraising efforts rather than using them directly for our humanitarian projects. This strategy allows us to maximize the effectiveness of our campaigns while remaining true to our ethical values.
By transforming bank interest into resources for our marketing initiatives, you participate in a form of solidarity that amplifies our reach and impact. Your contribution helps promote our efforts and engage more people in our cause, thereby strengthening our overall mission.
Your commitment through the donation of your bank interest plays a crucial role in the continuation of our work. It supports campaigns that raise awareness and mobilize the necessary support to help the most vulnerable communities. Thank you for joining us in this ethical approach to creating a more just and equitable world.
Riba literally means "increase" or "excess" in Arabic. In Islamic finance, riba refers to interest charged on loans or earned from conventional savings accounts.
Why is Riba Forbidden?
Islam prohibits riba because it creates unfair financial gain without productive effort or risk-sharing.
Riba exploits those in need and increases economic inequality, contradicting Islam's principles of justice, fairness, and community welfare.
Make A DonationCan Muslims Have Savings Accounts in Canada?
Yes, saving money is encouraged in Islam as a responsible financial practice. However, interest earned on conventional Canadian savings accounts is considered riba.
Halal alternatives include:
When Do Canadian Banks Pay Interest?
Most Canadian banks credit interest:
Check your bank statements to track interest payments and donate them before they benefit you personally.
O believers! Fear Allah, and give up outstanding interest if you are ˹true˺ believers.
Quran 2:278
Yes. As a CRA-registered charity, Human Appeal Canada provides official donation receipts for all contributions, including bank interest donations.
Bank interest is considered haram (forbidden) because it represents a form of riba, which contradicts the principles of equity and justice advocated by Islam. Usury increases inequality and exploits individuals, opposing the values of solidarity and mutual support promoted by the Muslim faith.
Saving is a responsible financial practice and is not inherently forbidden in Islam. However, interest earned on savings, such as those in bank accounts, is considered riba (usury). Therefore, Muslims are encouraged to choose savings methods that do not generate interest or to invest in options that align with Islamic finance principles.
Interest accrued on savings accounts is typically credited at the end of the calendar year. For individuals who adhere to Islamic principles, it is advisable to purify these earnings by donating them to charitable causes or by refraining from accumulating them entirely.
In line with the principles of charity in Islam, donating your usurious interest to charitable organizations such as Human Appeal allows you to rid yourself of these illicit gains.
Absolutely. Interest from GICs, bonds, mutual funds, or any investment vehicle should be donated if it's riba-based interest.
We recommend donating at least annually, though you can donate monthly or quarterly if you prefer.
Yes. If your accounts regularly generate interest, you can set up a monthly donation to simplify the process.
You should estimate the amount and donate it from your current funds to purify your wealth.
No. Any amount of interest, no matter how small, should be donated.
Each person should donate their own interest separately for accurate tax receipting.
