FatwaFederal TerritoriesTransactions & Finance
IRSYAD HUKUM SIRI KE-657: HUKUM MENYERTAI KUTU EMAS
Is it permissible to join a gold kutu (rotating savings) scheme?
Short answer
Joining a gold kutu scheme is permissible in the two models discussed.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Federal Territories Mufti Office
- Date
- Status
- Opinion (irsyad)
- Series
- Irsyad al-Hukum (Umum)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
Joining a gold kutu scheme is permissible in the two models discussed. The first follows the ruling on money kutu as a reciprocal loan (qurud mutabadilah), with no deferred riba because the turn holder buys the gold in cash at the current price. The second, where the price is locked with the organiser (Mak Kutu), is also permissible based on a binding mutual promise (muwa'adah), and a party who breaks the promise bears the actual loss. These conditions apply to both gold bars and jewellery, and the scheme must also comply with relevant laws.
Written in our own words from the original fatwa — check the source before acting on it.
Hukum menyertai program kutu emas adalah harus sekiranya ia mempunyai dua gambaran yang kami nyatakan dalam huraian di bawah.
Read the full fatwa on the Federal Territories website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Federal Territories Mufti Office. “IRSYAD HUKUM SIRI KE-657: HUKUM MENYERTAI KUTU EMAS”, 10 January 2022. https://muftiwp.gov.my/ms/artikel/irsyad-hukum/umum/5090-irsyad-al-fatwa-siri-ke-657-hukum-menyertai-kutu-emas. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/ruling-on-joining-gold-kutu-scheme/