We are four people who pay a specific amount every month, and then one of us takes it each month. What is the ruling on this savings club?

Question:
The brothers are asking and saying: We are four people who receive a salary of two hundred and thirty dinars. If each person takes one hundred dinars from his salary, then we pool them and one of us takes it, and in the second month the other takes it, and so on, what is the ruling in this case? Is there anything forbidden in it? May Allah reward you with good and do you good.

Answer:
What I see is that this transaction is not permissible for several reasons. First, it is a loan that yields a benefit, because each of these people is only lending to his colleagues on the condition that they lend to him. So it is a conditional loan within a loan, and two contracts in one contract. This falls under the prohibition of the Messenger (peace and blessings be upon him) regarding two sales in one sale.
Also, this borrower from these many people burdens himself with debts to a large group of people.
He may not be able to repay. He may be dismissed from his job. He may face an unexpected event or be transferred from his location. This leads to negligence in the rights of others. And Allah has not driven him to this transaction.
He should seek his need through proper means, such as borrowing from one of his friends, or taking a loan from him in the prescribed manner, and not burden himself with this debt to these many people. Yes.