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Money saving scheme

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: Is it permissible to save money like any chit funds, for example 40 months scheme for 40 laks but monthly we pay like 60, 70 etc.?

Bismillaah

A: We do not know how this works.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

Find more answers indexed from: Muftionline.co.za
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