What is the ruling on associations in which some people collect money that they give to one of them every month?
Machine translationRead the Arabic original
Question:
Shaykh, there is an association among a group of women where one of them receives the amount each month. Is there anything wrong with this? Please inform us. May Allah reward you with good.
Answer:
This collective loan that some employees take, and I hold that it is not permissible, because this means they are lending to one another in turn, each one lending to his colleagues in rotation, so it becomes a conditional loan within a loan, which means two sales in one sale, and it is also a loan that brings benefit, and every loan that brings benefit is riba (usury or interest). Yes.
Shaykh, there is an association among a group of women where one of them receives the amount each month. Is there anything wrong with this? Please inform us. May Allah reward you with good.
Answer:
This collective loan that some employees take, and I hold that it is not permissible, because this means they are lending to one another in turn, each one lending to his colleagues in rotation, so it becomes a conditional loan within a loan, which means two sales in one sale, and it is also a loan that brings benefit, and every loan that brings benefit is riba (usury or interest). Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم الجمعيات التي يجمع فيها بعض الأشخاص أموالاً يعطونها كل شهر لشخص منهم؟ #فتاوى الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.