If I start a business with a partner with equal investments in the businessand agree to share profit in a 50:50 ratio, would it be permissible for me to give him a sum of money later on (which will be used for my partner’s personal use) and increase my percentage share of profit in return? Or would this be riba?
If I start a business with a partner with equal investments in the businessand agree to share profit in a 50:50 ratio, would it be permissible for me to give him a sum of money later on (which will be used for my partner’s personal use) and increase my percentage share of profit in return? Or would this be riba?
05Apr
ANSWER:
No problem in negotiating the percentages of profit after sometime and changing the capital investment ratio
If I start a business with a partner with equal investments in the businessand agree to share profit in a 50:50 ratio, would it be permissible for me to give him a sum of money later on (which will be used for my partner’s personal use) and increase my percentage share of profit in return? Or would this be riba?