Are premium bonds and their earnings halal?

Assalaamualaikum.

Are premium bonds and the money got from these bonds halaal? If not what should be done with the money received from these premium bonds?

Answer

Wa Alaykum Salam,

Premium bonds are investments dependant upon interests. As such it is not permissible to invest in such schemes. Also, all earnings gained from premium bonds are haram and should be given to charity without the intention of gaining any rewards (sawab).

And Allah (swt) knows best.

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Mufti Saifur Rahman Sahib
London, UK

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This answer was collected from MuftiSays.com, based in London (UK). It is one of the fruits of Darul Uloom London. Many ‘ulama are involved in answering the Q&A on the site, including: Shaikul Hadeeth Mufti Umar Farooq Sahib, Mufti Saifur Rahman Sahib, Mufti Abdullah Patel Sahib, Maulana Qamruz Zaman Sahib, Mufti Abu Bakr Karolia Sahib.

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