Can a person enter into an interest bearing transaction with the intention of distributing the interest in charity?

Q. Can I enter into an interest bearing transaction with the intention of distributing the interest in charity after the transaction is completed?

A. It is not permissible to enter into any interest bearing transaction with the intention of distributing the interest in charity to the poor and needy. Rasoolullah Sallallaahu AlayhiWasallam cursed the one who accepts interest and the one who pays it. (Muslim)