Is Buying Premium Bonds Permissible?

 

Question:

Assalamu ‘Alaykum.

I wanted to ask if buying premium bonds is halal?

Answer:

Wa ‘alaykum assalam wa rahmatullah wa barakatuh.

I pray you are well.

No, buying premium bonds is not permissible. They, like other bonds, are based on interest, which is impermissible to deal with.

Based on this, it is not permissible to sell them, even if you bought them without knowing. (Usmani, Fiqh al Buyu’) Please endeavor to check with a scholar about the rulings of such matters in the future, lest it causes further losses in one’s Aakhira and Dunya.

Please see:

 

https://seekersguidance.org/answers/hanafi-fiqh/repentance-for-taking-money-from-bonds/

Turn to Allah in repentance, and ask Him to facilitate the halal good of this world for you. It will come. Just aim to please Him.

May Allah bless you with the best of both worlds.
[Shaykh] Abdul-Rahim

 

Checked and Approved by Shaykh Faraz Rabbani

Shaykh Abdul-Rahim Reasat began his studies in Arabic Grammar and Morphology in 2005. After graduating with a degree in English and History, he moved to Damascus in 2007, where, for 18 months, he studied with many erudite scholars. In late 2008 he moved to Amman, Jordan, where he continued his studies for the next six years in Sacred Law (fiqh), legal theory (Usul al-fiqh), theology, hadith methodology, hadith commentary, and Logic. He was also given licenses of mastery in the science of Quranic recital. He was able to study an extensive curriculum of Quranic sciences, tafsir, Arabic grammar, and Arabic eloquence.