12 Rabi al-Thani 1441

There is a company if you invest 500$. every month you will get 100$ for a year and they don’t deal with Alcohol or gambling or any haram business because is a islamic company so is this Riba ?

By Admin
In Halal/Haram Matters
Nov 16th, 2019
0 Comments
138 Views

ANSWER:

Yes, this is riba and one of the major sins in Islam because this profit is fixed. 

For any investment to be halal, it must be a halal business and you must share both profit and loss and the profit must not be fixed (Percentage can be fixed but not the actual amount) 

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