Based on the fact that it is unknown whether there will be anyone left to recruit (the only realistic means of earning money), it could be argued that the OneCoin scheme contains elements of maysir/qimar (gambling/chance ), gharar (uncertainty), jahalah (ignorance) and, additionally, assisting in sin/evil. We will not explore these aspects in this paper as what has been discussed
above is sufficient to reach a conclusion.
The OneCoin scheme contains fraud and deception leading to unlawful consumption of wealth which is impermissible. If potential recruits were made aware of the truth, they would be very unlikely to participate (except for the greedy and ignorant). Even if we ignore that aspect, we cannot escape the fact that when it collapses, it will cause harm to oneself and to one’s wealth which is impermissible. Additionally, by recruiting others, one causes harm to others
رد احملتار على الدر املختار: كتاب البيوع, بَابم الَْب يْعي الْفَاسيدي *240
241 al-Isra’ 17:26-27*
242 Sahih Muslim 593, 1715, Sahih al-Bukhari 2408, 1477 243 Muwatta 2/746, Sunan ibn Majah 2340/1, Dar Qutni 4/228 244 Sahih Muslim 2564, Sunan Abi Dawud 4882, Jami` at-Tirmidhi 1927, Sunan Ibn Majah 3933
which is also impermissible and this can continue indefinitely until collapse. This is further exacerbated by additional elements of interest, excessive uncertainty and gambling. We should not associate ourselves with such disreputable companies which cause harm.
Final conclusion: it is impermissible to participate in this scheme.
And Allah knows best
(Abu Yousuf) M. Suhail Patel, Bolton, UK
16 November 2016 / 16 Safar 1438
Approved and endorsed by
Mufti Amjad Mohammed, Principal of Markaz al-Ifta, The Olive Foundation & IRTIS, Bradford, UK Mufti Abdurrahman Mangera, Director of Zamzam Academy & Rayyan Institute, London, UK
Mufti Faisal Niazi al-Mahmudi, fatwa.ca, Qafila.org, Principal of ilmHub, Montreal, Canada
Shaykh Yusuf Shabbir, www.nawadir.org,
Hadith Lecturer, Jaame Masjid, Blackburn, UK
Please note: further endorsements are pending and will be added as and when received, insha Allah
I would like to express my gratitude to all those who kindly offered their constructive comments, valuable feedback and guidance.