Authored by: Al-Sheikh Mubashir Ahmad Rabbani (Hafizahullah)
Another form of prize bonds involves a scenario where the purchaser loses their money if their number is not drawn. This is outright gambling and haram, just like lottery tickets, raffle tickets, and various types of puzzles and games promoted by newspapers. All these are forms of gambling and strictly prohibited in Islam.
Additionally, food prepared using such prize-based earnings and events organized with such funds are also haram, and participating in such events is completely impermissible.
Conclusion:
Muslims should avoid participating in any activity involving prize bonds or similar schemes, as they violate the principles of Islamic finance and involve both interest and gambling.
Question:
Is it permissible to purchase prize bonds and obtain prizes from them in light of the Qur'an and Hadith?Answer:
Prize bonds issued by the government are a form of interest (riba) combined with an element of gambling. The government collects money from numerous people by selling these prize bonds and guarantees them that their principal amount is safe. If a person's bond number is drawn, they are awarded a prize. This prize is derived from the accumulated money, which is essentially interest and therefore haram. Even if it were considered permissible, this prize would be the right of all those who contributed money. However, this right is randomly allocated to selected numbers, without any merit or systematic basis, purely based on chance—this is classified as gambling. Hence, purchasing prize bonds is haram.Another form of prize bonds involves a scenario where the purchaser loses their money if their number is not drawn. This is outright gambling and haram, just like lottery tickets, raffle tickets, and various types of puzzles and games promoted by newspapers. All these are forms of gambling and strictly prohibited in Islam.
Additionally, food prepared using such prize-based earnings and events organized with such funds are also haram, and participating in such events is completely impermissible.
Conclusion:
Muslims should avoid participating in any activity involving prize bonds or similar schemes, as they violate the principles of Islamic finance and involve both interest and gambling.