What is the ruling on associations that rotate among employees?
Machine translationRead the Arabic original
Question:
What is the ruling on associations among employees?
Answer:
The associations that are now common among people, based on loans, where they gather and each one borrows a certain amount every month: this one borrows a thousand, and that one borrows a thousand. This one takes twenty thousand, and the next one takes it the following month, and the second one takes it the second month, and so on. There were some doubts and differences regarding these, and it was feared that they might be a loan that brings benefit. Then we studied this in the session of the Council of Senior Scholars, and a decision was issued by majority that there is no harm in it, if Allah wills. Because it is a loan that does not bring benefit; rather, each one takes the same as his brother, exactly the same, with no increase.
What is the ruling on associations among employees?
Answer:
The associations that are now common among people, based on loans, where they gather and each one borrows a certain amount every month: this one borrows a thousand, and that one borrows a thousand. This one takes twenty thousand, and the next one takes it the following month, and the second one takes it the second month, and so on. There were some doubts and differences regarding these, and it was feared that they might be a loan that brings benefit. Then we studied this in the session of the Council of Senior Scholars, and a decision was issued by majority that there is no harm in it, if Allah wills. Because it is a loan that does not bring benefit; rather, each one takes the same as his brother, exactly the same, with no increase.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.