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Is investing in Kabul Bank of Afghanistan’s “BAKHT” account Halal or Haram?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
Dear Sirs, Here in Afghanistan the banks have started a kind of new bussines which is opening an account in the KABUL BANK of Afghanistan the account is Named “BAKHT” Means Luck the customer has to pay 100 US $ any amount up then 100 is accepted and less then this amount is not accepted in a month they draw the names of poeple in a box then asks the official to take the names out some lucky names are selected for various prizes the highest prize is 20,000 US $, the names which are not selected they are going to be drawn to next one and continue the same untill you take out your money and close the account, they don’t take your money but they collect all the funds of their customers and send it to Swiss Banks and then they take out a large amount of intrest after some period of time and arrange the prizes draw, now here in Afghanistan they tell the that they invest the money in various huge companies but in reality the give the money to swiss banks on intrest and continues the same ways, Now kindly if your honora can direct us that is all this HALAL or HARAM Looking forward to your reply.


(Fatwa: 925/864=B)

This new business is disallowed as per Shariah. It is interest and giving and taking interest is Haram: احل اللہ البیع و حرم الربوا

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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