The Ruling on Group Loans Among Employees
Machine translationRead the Arabic original
Question:
This questioner who sent this question, a summary of which concerns a financial association, says: Among the individuals, for example, each member of the association puts in a sum of money, and at the end of each month these funds are collected and one person takes them according to the order,
Answer:
and this is called a group loan among employees or employee associations. I hold that this is not permissible because it is a loan that brings benefit; he does not lend to them except so that they will lend to him, and he takes the amount when his turn comes. So it is a conditional loan within a loan. Also, it falls under the category of two sales in one sale. In my view, it is not permissible, even if one who issued a ruling has ruled on it. Yes.
This questioner who sent this question, a summary of which concerns a financial association, says: Among the individuals, for example, each member of the association puts in a sum of money, and at the end of each month these funds are collected and one person takes them according to the order,
Answer:
and this is called a group loan among employees or employee associations. I hold that this is not permissible because it is a loan that brings benefit; he does not lend to them except so that they will lend to him, and he takes the amount when his turn comes. So it is a conditional loan within a loan. Also, it falls under the category of two sales in one sale. In my view, it is not permissible, even if one who issued a ruling has ruled on it. Yes.
Source
نور على الدرب - الفوزان - 02/293 — archive.org (8:43)
The Arabic text is a machine transcription of the audio recording.