Is it permissible for colleagues at work to form a cooperative where each person pays a monthly amount, which is then collected at the end of the month for one of them?
Machine translationRead the Arabic original
The questioner:
Peace be upon you, Your Eminence, father. The questioner asks: Is it permissible for me and three of my colleagues to form a cooperative, where each one pays five thousand riyals, and each month one of us takes it?
The Shaykh:
This collective loan, I rule that it is not permissible, because it is a loan that brings benefit and a conditional loan; it is a loan with a condition and a contract with a condition, so this is not permissible.
The presenter:
You have done well.
The Shaykh:
And Allah the Exalted knows best. We ask Allah
Peace be upon you, Your Eminence, father. The questioner asks: Is it permissible for me and three of my colleagues to form a cooperative, where each one pays five thousand riyals, and each month one of us takes it?
The Shaykh:
This collective loan, I rule that it is not permissible, because it is a loan that brings benefit and a conditional loan; it is a loan with a condition and a contract with a condition, so this is not permissible.
The presenter:
You have done well.
The Shaykh:
And Allah the Exalted knows best. We ask Allah
Source
قناة «العلامة الدكتور صالح الفوزان»، [2574- 4717] هل يجوزللزملاء في العمل إنشاء جمعية حيث يدفع كل شخص شهريا ثم تجمع آخر الشهر لواحد منهم؟ — youtube.com
The Arabic text is a machine transcription of the audio recording.