Connect Ummah Foundation understands that in Islam, earning or consuming interest (Riba) is prohibited. However, many individuals unknowingly or unavoidably accumulate interest from savings accounts, fixed deposits, or other financial instruments.
To address this concern, Connect Ummah’s crowdfunding platform will introduce a dedicated project where individuals can donate the interest amounts they receive but cannot ethically utilize for personal use.
How the Initiative Works:
• The collected interest funds will be pooled together and placed into a fixed deposit (FD) account.
• The interest earned from this FD will be exclusively used for helping those trapped in climatic crises or saving lives.
• Additionally, a portion of the earnings may be used for emergency life threatening accidents and cancer operations.
Purpose and Ethical Compliance:
This initiative ensures that money considered impermissible for personal use is redirected towards social good in a manner that aligns with Islamic principles. Donors can have peace of mind knowing that such funds are utilized only for life saving activities, and not for administrative or personal benefits.
Through this project, Connect Ummah aims to create a structured and transparent platform for responsibly managing interest funds and turning them into a source of positive impact for society.
Utilization of Interest (Riba) for Saving Lives
Connect Ummah Foundation understands that in Islam, earning or consuming interest (Riba) is prohibited. However, many individuals unknowingly or unavoidably accumulate interest from savings accounts, fixed deposits, or other financial instruments.
To address this concern, Connect Ummah’s crowdfunding platform will introduce a dedicated project where individuals can donate the interest amounts they receive but cannot ethically utilize for personal use.
