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The question

Are national Sukuk, which are based on the principle of Sharia-compliant Mudarabah and allow investors to redeem their value and profits, in addition to the possibility of winning prizes from a periodic draw from the administration's private funds, considered permissible in Sharia, despite Dr. Hussein Hamid Hassan's affirmation of their permissibility?

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Source: FtawySummarized from the full answer at Ftawy · reviewed Sep 2, 20261 min readAlso available in العربية
The answer

The fatwa issued by the center does not contradict the respected doctor's opinion, because the fatwa did not assert that purchasing these certificates is a lottery. Rather, it stated that buying them with the sole aim of winning the monthly prize, without the objective of development and investment, falls under Maysir (gambling). Maysir is any transaction involving both gain and loss, where the winner gains without exchange or for a negligible exchange. Furthermore, the fatwa considered the purchasers of these certificates as akin to partners in a Qirad (commenda) contract, and the prize as a gift to the Qirad partner. Such a gift is forbidden unless it has another legitimate justification, and this is the view of the Maliki school.

Summarized from the full answer at Ftawy · reviewed Sep 2, 2026

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