Current Legal Issues
- BANKING AND FINANCIAL SERVICE
These are tickets sold by companies whereby they pledge to draw the winning numbers.
Whomsoever happen to have such numbers on his ticket will be declared the winner and
should get a prize. This could take different forms.
- (i) The aim of the buyer of such a ticket could be the possibility of winning the
- This type of transaction is haraam and batil without ishkal..
If the haraam act had been committed and he won, and the company happened to be
state owned, the amount of the prize taken should be treated as majhoulil malik.
The permissibility of having the right of disposal over such money is dependant on
consulting the Marji to finding a legitimate way of making it good. If the
company was private, the right of disposal over the prize money is in order. However, one
should take account of securing the consent of the owners of the money, no matter whether
they know the transaction is imperfect (fasidah).
- (ii) Giving the money is done without expecting a return on it. That is donating it
for a good cause, such as building a school or a bridge, etc., with no intention of
winning a prize or making a profit. If this was the case, there is no harm in it.
- However, if he won a prize, there is no objection that he received it, and could have
the right of disposal over the its money, after consultation with the Marji
to finding a legitimate way of making it good. This should be the case if the company was
owned by the government. Otherwise, there should be no need for obtaining the permission
of the Marji.
- (iii) Payment of money is done by way of loan, provided that the money lent be
returned in, say , six months time. However, repayment is made subject to the condition of
obtaining a lottery ticket, whose value the company will pay should the participant win.
- This type of transaction is haraam as it constitutes a form of usury loan.