Is it considered permissible (halal) or forbidden (haram) to purchase a "savings certificate" that allows for the retrieval of the original amount (1000 dirhams) and participation in monthly and weekly draws for financial prizes?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
This transaction is an usurious loan, compounded by prohibited gambling. Therefore, an savings or investment certificate that guarantees the principal to its owner, if it yields a fixed return, or if it involves prizes distributed by lottery, is forbidden, and participation in it is impermissible.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/33130
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 33130
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy