Islamic economy

QUESTION: My friend is having a business.he told me to invest some amount of money to him and for that money i invest he will gave me a fixed profit every month .is this come in riba ….. The business he is doing is 100%halal

Halal/Haram Matters, Islamic economy, Riba

01 Jan

ANSWER: This is totally prohibited and its riba, one of the major sins in Islam. You must be part of both profit and loss. You can get a fixed percentage on the capital you invested and not a fixed amount.

QUESTION: Sheik I have invested in my brother-in-law’s restaurant business, the total capital is 8lakhs and we shared 4lakhs each, he alone runs the business and i am sharing profit and loss with him on daily basis on my share of 15%, if the business shuts down and if there is a loss i will lose 50% of my capital. If inbetween I come out or if he sends me out of the business i will get my capital. Halal?

Islamic economy

30 Dec

ANSWER: If you agreed to 15% share of the profit, this is fine but you will lose your share in the capital equal to his share if there are losses as you both entered with 50/50 However, if the business shuts down, we must look into what remained from the capital and you and him […]