Current Legal Issues
- BANKING AND FINANCIAL SERVICE
These are tickets sold by companies whereby they pledge to draw the
winning numbers. Whomsoever happen to have such numbers on his ticket
will be declared the winner and should get a prize. This could take
- (i) The aim of the buyer of such a ticket could be the
possibility of winning the prize.
- This type of transaction is haraam and batil
without ishkal.. If the haraam act had been committed
and he won, and the company happened to be state owned, the amount
of the prize taken should be treated as majhoulil malik. The
permissibility of having the right of disposal over such money is
dependant on consulting the Marji’ to finding a legitimate
way of making it good. If the company was private, the right of
disposal over the prize money is in order. However, one should take
account of securing the consent of the owners of the money, no
matter whether they know the transaction is imperfect (fasidah).
- (ii) Giving the money is done without expecting a return on it.
That is donating it for a good cause, such as building a school or a
bridge, etc., with no intention of winning a prize or making a
profit. If this was the case, there is no harm in it.
- However, if he won a prize, there is no objection that he received
it, and could have the right of disposal over the its money, after
consultation with the Marji’ to finding a legitimate way of
making it good. This should be the case if the company was owned by
the government. Otherwise, there should be no need for obtaining the
permission of the Marji’.
- (iii) Payment of money is done by way of loan, provided that
the money lent be returned in, say , six months time. However,
repayment is made subject to the condition of obtaining a lottery
ticket, whose value the company will pay should the participant win.
- This type of transaction is haraam as it constitutes a form
of usury loan.