❖ Shar’i Ruling on Bid-Based Committees (Boli Committee):
Does It Fall Under Interest and Gambling?
Source: Fatāwā Muḥammadiyyah, Volume 1, Page 627
❖ Question:
What does Islamic Sharīʿah say regarding a “Boli Committee”?
For example, a person wins a bid and receives ₹70,000 by bidding only ₹25,000 —
Does this method fall under riba (interest) or not?
❖ Answer:
Al-ḥamdu lillāh, waṣ-ṣalātu wa-s-salāmu ʿalā Rasūlillāh. Ammā baʿd:
❖ Clear Shar’i Verdict:
✿ The described method clearly constitutes both riba (usury/interest) and qimār (gambling).
✿ Therefore, it is absolutely necessary to avoid and abstain from such a transaction under all circumstances.
❖ Important Sharʿī Principle:
It is well established that:
Paper currency (notes) is equivalent to gold (as a medium of exchange).
Therefore:
❀ Buying and selling of money (currency) — whether in cash with increase/decrease, or on credit — is prohibited in all forms.
❀ Whether the exchange is equal or involves excess or deficiency, it is not permissible.
Conclusion:
A “Boli Committee” — where money is distributed based on bidding and deduction — is Sharʿan forbidden.
✔ It involves both interest (riba) and gambling (qimār).
✔ It is impermissible (ḥarām).
هذا ما عندي، والله أعلم بالصواب
