What is the permissibility of dealing with the national sukuk (Islamic bonds) launched by the National Bonds Corporation in Dubai, which do not yield interest but rather distribute 10% of their annual profits to their holders, enter them into a monthly draw for cash prizes, and have a Sharia supervisory board?
It is not permissible for either the Mudarib (investing partner) or the Rab al-Mal (owner of the capital) to give a gift to the other unless there is a reason unrelated to the Mudarabah (partnership). The monthly prizes for Sukuk (Islamic bonds) are impermissible because they are either a gift to the Rab al-Qirad (owner of the capital in a Qirad/Mudarabah contract) or a form of Maysir (gambling). It is not permissible to deal in these Sukuk.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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