The Riba Profits should be spent in the Ways of Goodness
Question :
How can I get rid of the Ribs profits Islamically?
Answer:
I think and I feel that it is better to take it from the banks and spend it in the ways of goodness and the charitable deeds, such as on Masjids and free schools in the Islamic lands that need that. This is better than the people of the bank devouring it while it came from them, and thus the person would be included in the Hadith of Allâh's curse being upon the person who devours Riba and the person who gives it (to be devoured by others).
Source:
Ash-Shaykh Ibn Jibreen
Fatawa Islamiyah, Vol. 3 Page 408