Is it sufficient to give money or meat in charity instead of performing Aqeeqah?

This excerpt is taken from Sheikh Farooq Rafi Sahib's book Qurbani, Aqiqah, and Ashra Zil-Hijjah.

Giving money as Sadaqah instead of Aqiqah​

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Some people give the equivalent amount as charity instead of performing Aqeeqah, but according to the literal and Shariah definition of the Ahadith of Aqeeqah and the practice of the Prophet ﷺ, it is necessary to slaughter the Aqeeqah animal; giving the amount as charity will not fulfill the Aqeeqah. Ibn Qudamah Hanbali, may Allah have mercy on him, stated that performing Aqeeqah is better than giving the amount as charity. Imam Ahmad, may Allah have mercy on him, has given a clear statement on this and said: If the person performing Aqeeqah does not have the means to do so and takes a loan to perform Aqeeqah, then I have strong hope that Allah will grant him a better reward in return for reviving the Sunnah. Ibn Mundhir, may Allah have mercy on him, said that Imam Ahmad’s statement is based on truth because reviving the Sunnah and following the Prophet ﷺ is superior, and the emphasis found in the narrations regarding Aqeeqah is not found to such an extent in other matters. Furthermore, the Prophet ﷺ gave a ruling regarding this sacrifice, so it is more appropriate and preferable to make arrangements to slaughter the Aqeeqah animal like the Walimah and Qurbani.

Reference: Al-Mughni with Al-Sharh Al-Kabeer: 121/11.

Giving Meat Instead of an Animal in Aqiqah:​

In Aqiqah, the obligation is not nullified by distributing an equivalent amount of meat instead of slaughtering an animal, because the command in Aqiqah is to slaughter two animals for a boy and one animal for a girl. Distributing meat does not fulfill the command, as the obligation of Aqiqah is not completed by this.

Fatwa of Abdullah Muhaddith Roopri, may Allah have mercy on him:​

Question: Is it necessary to slaughter an animal for Aqiqah, or is giving meat in its place sufficient?
Answer: The hadith mentions two animals for a boy and one animal for a girl, therefore meat alone is not sufficient, because meat is not an animal.

Reference: Fatawa Ahl al-Hadith: 549/2.