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Is “boli wali committee” jayez?

Answered as per Hanafi Fiqh by Darulifta-Deoband.com
1.if 10 candidat collect money for a certain period of time like 10 months and the total amount is 1 lakh, one person will have to pay 10000 every month, and we make draw, the person who got his name will get the total amount of 1 lakh. we call it committee,is it jayez. 2. the other type of committee is, every month their will be meeting. the person who will collect the money less than the fixed amount like 1 lakh and the person who collect agreed to take it in loss like 80000, it is called “boli wali committee”. is it jayez


(Fatwa: 1099/691/L=1432)

(1) This is alright if all the ten members collect one lakh rupees in ten months and draw it each month and one whose name is drawn he is given the total amount of one lakh.
(2) The second type of this committee is unlawful because when the exchange of rupees is with rupees then the difference is haram.

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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