My father has deposited a fixed amount in the bank by my name.The riba(bank profit) that he gets on it,he gives it to me as a gift.Can you please tell me whether the money is halal for me and whether I can use it or not.Can you also recommend where should I spend the money?.
It is not permissible to put money in the riba-based bank unless it is necessary to protect it and there is no Islamic bank. In that case, it should be restricted to putting it in a current account with no interest from the bank.
The one who deals with riba knowing that it is haraam has to get rid of the interest by giving to the poor and needy, or spending it on the public interests of the Muslims, such as schools, hospitals and so on. It is not permissible for the person to benefit from interest himself.
With regard to the money asked about here, if it was deposited in your name and thus becomes your property and you can dispose of it, you have to get rid of the interest and advise your father to repent from riba and to give it up; you also have to try to take the money out of the riba-based bank.
If your father insists on keeping it in the bank and gives you the interest as a gift, you have to get rid of it in the ways described above.
The stern warnings of consequences in this world and in the Hereafter with regard to riba are well known. Allah, may He be exalted, says (interpretation of the meaning):
“O you who believe! Fear Allaah and give up what remains (due to you) from Ribaa (from now onward) if you are (really) believers.
279. And if you do not do it, then take a notice of war from Allaah and His Messenger but if you repent, you shall have your capital sums. Deal not unjustly (by asking more than your capital sums), and you shall not be dealt with unjustly (by receiving less than your capital sums)”
And Muslim (1598) narrated that Jaabir (may Allah be pleased with him) said: The Messenger of Allaah (blessings and peace of Allaah be upon him) cursed the one who consumes riba and the one who pays it, the one who writes it down and the two who witness it, and he said: they are all the same.
According to the hadeeth of Samurah (may Allah be pleased with him) about the dream that the Prophet (blessings and peace of Allah be upon him) saw, he [the Prophet (blessings and peace of Allah be upon him)] said: “… So we went on and came to a river, red like blood. In the river there was a man swimming, and on the bank there was a man who had gathered many stones. Whilst the swimmer was swimming, the man who had gathered the stones approached him. The swimmer opened his mouth and the man on the bank threw a stone into it, then the swimmer carried on swimming. Each time he came back, he opened his mouth again, and the man on the bank threw another stone into his mouth. … The man you saw swimming in the river with rocks being thrown into his mouth is the one who consumed riba (usury).”
Narrated by al-Bukhaari (6525).
So hasten to repent to Allah, may He be exalted, and take the money out of the bank. We ask Allah to pardon us and you.
And Allah knows best.