In Islam, acts of worship and drawing close to Allah are exclusively determined by Allah Alone either in His Book or on the tongue of His Messenger (peace and blessings be upon him). None is allowed to believe that such-and-such act of worship will please Allah and will be acceptable for Him unless he has a clear proof supporting this belief; otherwise, his deed will go in vain.
Responding to this issue, the Standing Committee for Islamic Research and Ifta’ issued the following fatwa:
Sadaqah(charity), especially SadaqahJariyah(ongoing charity), is among the greatest acts of obedience that draw us closer to Allah, but on condition that giving Sadaqah is done according to the teachings of the Shariah. It should be given away from lawfully-gained money and be paid in permissible channels, such as for the poor and the needy, or for building a Masjid (mosque) and the like.
Associating the giving of Sadaqah with a particular time unspecified by the Shariah based on a belief of its necessity is impermissible. Consequently, if this Sadaqah is paid during Sha`ban due to a belief in the sacredness of the month or any of its days, it will not be considered among the lawful acts that draw closer to Allah.