Sheikh! My uncle’s company won a business deal. But the company is lacking finances. So he asked his family members and friends to lend him money and help him. And in return he would share a percentage of profit with them along with the money lent. Can I lend him money and take extra money? Is this riba? If not, Under what conditions is this allowed?
Jul 6th, 2018
This is clear riba. A loan must not be with profit or interest.
You can ask him to give you a share in the business where you will share with him the profits and losses as well.