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Fatwa CenterRuling on “National Bonds” scheme
Question
As-salaamualaikum. May ALLAH bless you'll for your good work. My question is related to the Fatwa Number 92429. I would be obliged if you could provide a clear understading of this matter. Myself and lot of my friends have invested in this scheme called National Bonds (thinking that it is shari'a compliant). We would like to invest in this only if it is permitted in Islam or else we intend to withdraw our money. Kindly guide us on the correct ruling as we are very confused at the moment. ZazaakAllah. Here is the link to their site for your reference (just in case) www.nationalbonds.ae
Answer
All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad 
is His slave and Messenger.
We have already clarified and defined Mudhaarabah in the Fatwa to which you referred. Therefore, you should compare this to the reality of National Bonds which you inquired about.
There are two important things to mention here:
1- Guaranteeing capital money: If the capital money in the National Bonds is guaranteed, then the transaction is nothing but a loan with Riba (interest and/or usury) and it is not a permissible Mudhaarabah. In this case it is not permissible for you to take part in it.
2- The field of investment should be permissible, and it should not be in what Allaah has forbidden, like intoxicants, dead meat, building places of dissoluteness and the like.
Hence, you should not be so worried and confused; by asking the people in charge of this National Bonds about its field of work and guaranteeing the money, the ruling will become clear and the problem solved.
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