Ruling on money taken from a student and returned doubled at the end of the year
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Question:
The questioner says: In our schools, they ask the girls for a small amount of money, around ten riyals. When the end of the year comes, they give the girls the amount plus an equal amount. Is this permissible?
Answer:
If this is for goods they buy for trade in the school, where they appoint someone to collect these coins, sell items, buy items, and sell items to the students, and they collect profits, then there is nothing wrong with it. However, giving ten and taking twenty at the end of the time is not permissible; this is riba (usury or interest). But if that is not the case, and they merely have an agent who buys necessities such as drinks and other things like perfumes, and collects some profit, then there is nothing wrong with it. Yes.
The presenter : May Allah reward you with good.
The questioner says: In our schools, they ask the girls for a small amount of money, around ten riyals. When the end of the year comes, they give the girls the amount plus an equal amount. Is this permissible?
Answer:
If this is for goods they buy for trade in the school, where they appoint someone to collect these coins, sell items, buy items, and sell items to the students, and they collect profits, then there is nothing wrong with it. However, giving ten and taking twenty at the end of the time is not permissible; this is riba (usury or interest). But if that is not the case, and they merely have an agent who buys necessities such as drinks and other things like perfumes, and collects some profit, then there is nothing wrong with it. Yes.
The presenter : May Allah reward you with good.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.