The Shariah Provision On "MMM"
By Sheikh Jabir Sani Maihula
For sometime now, a lot of people have been asking me about MMM, germane to which a question was posed to me when I delivered a lecture in ABU Zaria.
My inbox has been flooded with questions about the 'business'. I either replied with "I don't know" or left the questions unattended to, because I had not made a detailed research as regards the scheme.
However, I have made my research and drawn up my juristic position (fatwa/edict) based on the sources I consulted, which are as follows:
I) The MMM website
II) Securities and Exchange Commission website *(to see their view on the scheme)*
III) Online videos and documentaries about MMM, a 41mins documentary introducing the scheme in Nigeria.
IV) Discussion with people who have participated in the scheme/business
As a result of this, I have arrived at the following juristic conclusions:
1. The "business" is impermissible (HARAM!). This is because it is a classic case of riba al fadl [adding to the value of an item when exchanging it for another of the same type]. Islam prohibits this. *You can't give money to someone in need only to receive more in return.*
2. The scheme is extremely dangerous since it's not protected by the law in Nigeria and a host of other countries. Securities and Exchange Commission have strongly warned Nigerians to desist from the scheme. In one of their published articles dated 30th August 2016, they said,
"The general public is hereby advised to distance themselves from this online scheme. Please note that anyone that subscribes to this illegal activity does so at his/her own risk".
This alone should suffice as deterrent to people who wish to indulge in the scheme.
3. The scheme is shrouded in gharar (ambiguity). The prophet (sallallahu alaihi wasallam) forbade ambiguous transactions as established in the tradition reported by Muslim.
Hence, any discerning person who studies the scheme would come to the conclusion that its end result will be loss.
Abridged and rendered into English by Abdurrahman Islam(Abu Jamaal)
For sometime now, a lot of people have been asking me about MMM, germane to which a question was posed to me when I delivered a lecture in ABU Zaria.
My inbox has been flooded with questions about the 'business'. I either replied with "I don't know" or left the questions unattended to, because I had not made a detailed research as regards the scheme.
However, I have made my research and drawn up my juristic position (fatwa/edict) based on the sources I consulted, which are as follows:
I) The MMM website
II) Securities and Exchange Commission website *(to see their view on the scheme)*
III) Online videos and documentaries about MMM, a 41mins documentary introducing the scheme in Nigeria.
IV) Discussion with people who have participated in the scheme/business
As a result of this, I have arrived at the following juristic conclusions:
1. The "business" is impermissible (HARAM!). This is because it is a classic case of riba al fadl [adding to the value of an item when exchanging it for another of the same type]. Islam prohibits this. *You can't give money to someone in need only to receive more in return.*
2. The scheme is extremely dangerous since it's not protected by the law in Nigeria and a host of other countries. Securities and Exchange Commission have strongly warned Nigerians to desist from the scheme. In one of their published articles dated 30th August 2016, they said,
"The general public is hereby advised to distance themselves from this online scheme. Please note that anyone that subscribes to this illegal activity does so at his/her own risk".
This alone should suffice as deterrent to people who wish to indulge in the scheme.
3. The scheme is shrouded in gharar (ambiguity). The prophet (sallallahu alaihi wasallam) forbade ambiguous transactions as established in the tradition reported by Muslim.
Hence, any discerning person who studies the scheme would come to the conclusion that its end result will be loss.
Abridged and rendered into English by Abdurrahman Islam(Abu Jamaal)
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