Shar‘i Ruling on Boli-Based Committees: A Clear Form of Usury and Gambling
Source: Fatāwā Muḥammadiyyah, Volume 1, Page 862
❖ Question:
What is the Islamic ruling regarding “Boli Committees”?
For instance, someone receives an item worth seventy thousand by bidding only twenty-five thousand.
Does this fall under the category of ribā (usury)?
✿ Answer:
Al-ḥamdu lillāh, and blessings and peace be upon the Messenger of Allah. To proceed:
The scenario described is a clear form of both:- Ribā (usury) and
- Qimār (gambling)
Therefore, it is obligatory to avoid this practice under all circumstances.
It is a well-established principle that paper currency (notes) is essentially a substitute for gold,
and therefore, any buying and selling of currency (or equivalents) that involves increase or decrease,
whether cash or on credit, is prohibited in Sharīʿah.
Even if the exchange appears equal or unequal — in all such forms, it is ḥarām (forbidden) and impermissible.
Based on this foundation, the practice followed in “Boli-based Committees” is clearly unlawful.This is what I understand. And Allah knows best what is correct.
هٰذا ما عندي، والله أعلم بالصواب
