Buying with funds from a savings scheme when he is one of the members of the scheme
Question: 8507
We have
a fund whereby each member gives an initial payment (500 riyaals) then
makes monthly payments (100 riyaals). After a while, the fund grew and the
people who were in charge of it were able to buy cars with cash and sell
them by monthly instalments for a higher price. Some of the members of the
savings scheme and other people bought the cars.
The
first question is: what is the ruling on people who bought these cars in
the manner described above, who were also members of the savings scheme?
The
second question is: what is the ruling on a person who bought a car in the
manner described above, who was a member of the savings scheme but was
unaware (of the connection between the scheme and these cars)? If the
answer is that it is not permissible, whether he has paid in full or is
still paying?
Praise be to Allah, and peace and blessings be upon the Messenger of Allah and his family.
If this is based on the condition that one of the
partners in this scheme can buy one of the group’s cars, then this is
not permissible, because this comes under the heading of “two
transactions in one”, since it involves partnership (being a partner in
the scheme) and purchasing (buying the car). But if this is not a
condition that was previously laid down, then there is nothing wrong with
it.
And
Allaah is the source of strength. May Allaah bless our Prophet Muhammad
and his family and companions, and grant them peace.
Source:
Standing Committee on Academic Research and Issuing Fatwas, 13/309
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