Banks may give prizes to their customers by a draw to encourage them to deposit money with them. Is it permissible for the bank to do so? Here are the details.
If the bank embarks on such a process without imposing a condition on its customer when they deposit their money with it, rather encouraging them to increase their deposit and attract others to join in, it is permissible. It is also permissible for the person who wins a prize to accept it - as majhoulil malik - after getting the permission of the Marji', as a matter of ihtiyat. That is, if the bank was state owned or of joint ownership, he has the right of disposal over it after consulting the Marji'. If the bank, however, is owned by a private party, it is not necessary to obtain the permission of the Marji' to accept the prize and have the right of disposal over its money.
However, if the bank carries out such a free draw and gives the prize in fulfilment of a condition imposed by its customers in the loan contract or the like, it is not permissible to do so. It is not permissible, too, for the winner of the prize to accept it in fulfilment of the condition. It is permissible to accept it without the condition.
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