Receiving prize money from a lucky draw by the bank

Q: Here in Saudi Arabia, there is a bank called Al Rajhi that offers a savings account where you can deposit money without earning any interest. They also conduct lucky draws for account holders, and I want to ask if the prize money from these draws is considered halal or haram.

A: It will be regarded as interest, and hence haraam.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)