An Analytical Study of the Views of Pakistani Muslim Scholars on the Legal Status of Prize Bonds

پرائز بانڈ کی شرعی حیثیت سے متعلق پاکستانی مسلم علماء کی آراء کا تجزیاتی مطالعہ

Abstract

Every human being wants to have enough wealth at all times to meet his needs and to cope with sudden accidents easily. For this purpose, he works day and night and is anxious to spend his wealth in a business in which he can save his real wealth and make a profit. To meet these objectives, various schemes have been introduced at government and private levels which offer protection of real property as well as profit. Prize bonds are also counted in the same schemes where a person buys prize bonds from a bank for money and can sell them whenever he wants for the same amount of money. The government of Pakistan has announced various rewards to encourage the purchase of prize bonds. There are two groups of Pakistani Muslim scholars regarding the purchase and sale of prize bonds and the Shari'ah ruling on the rewards they receive. Some have called it illegitimate because it contains such evils as usury and gambling, while others have called it legitimate. It was necessary to analyze the positions of these two groups and their arguments. The article under review has been written for the same purpose.