What is the ruling on friends pooling money among themselves to give to each of them on their wedding day?
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Question:
The questioner says: There are ten people who pool a specific amount of money, which is given to each of them on their wedding day. Each one pays a specific amount and receives the same amount on his wedding day. What is the ruling on this practice?
Answer:
This is a loan. This is a loan. They are lending to one another; each one pays an amount and receives it from one of them in turn until it reaches the last of them. This is a loan. I hold that this is not permissible because it is a loan that brings benefit and a conditional loan. It is as if one says, "I will not lend to you unless you lend to me." If you do not lend to me, I will not lend to you. This is not permissible. Yes.
The questioner says: There are ten people who pool a specific amount of money, which is given to each of them on their wedding day. Each one pays a specific amount and receives the same amount on his wedding day. What is the ruling on this practice?
Answer:
This is a loan. This is a loan. They are lending to one another; each one pays an amount and receives it from one of them in turn until it reaches the last of them. This is a loan. I hold that this is not permissible because it is a loan that brings benefit and a conditional loan. It is as if one says, "I will not lend to you unless you lend to me." If you do not lend to me, I will not lend to you. This is not permissible. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم جمع المال من أصدقاء فيما بينهم ليعطى لكل واحد منهم يوم زفافه؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.