The Official Site of Shaykh Abdul Raheem
(Damat Barakaatuhum)

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

The Official Site of Shaykh Abdul Raheem
(Damat Barakaatuhum)

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Q712: Premium Bonds; Allowed?

Share This Post

Question

Asalam-Alaikum,

I would be grateful if you could kindly advise if it is permissible to Invest in Premium bonds.

I have copied the link from the website below.

http://www.nsandi.com/savings-premium-bonds

Jazakallah khair

Answer

Walaikumussalam w w

Mufti Taqi Saheb has written in ‘Islam aur Jadeed Ma’ashi Masaail’ p.78 vol.4 that taking premium bonds is not allowed.

Although it seems that your money is used for buisiness and you are given the profits. You only get extra if your name comes out and you are allowed to withdraw the original amount whenever you like.

However, it’s not as simple as that. It still comes under the definition of ‘Riba’ (usury), because you are giving less and getting more, albeit once in a while, when your name comes in the raffle.

The concept of qimar (lottery) also comes in to effect, because the large amount is gambeled as to who should be given. So you either gain that amount or loose it.

Thus it is not permissible to take out premium bonds.

Subscribe To Our Newsletter

Get updates and learn from the best

More To Explore

Travelling to Mina on the 8th of Dhul-Hijjah

Travelling to Mina on the 8th of Dhul-Hijjah By Shaykh al-Hadith Hadhrat Maulana Abdul Raheem hafizahullah Ummul Mu’mineen Aysha Radiallahu Anha narrates that I said: