Fixing the amount of profit based on one's capital investment

Submitted by admin on Sun, 2019-04-14 10:47

Q: Is it permissible to invest in the following company? This is the details from the company. Investment Plans is actually a Program in which Users have to Invest Amount in our Company and can get Profit Monthly till Specific Time Period. It is just like a Bank where you deposit money and get profit. Remember if you invest Money in Our Company in any Plan, then your deposit money is non-refundable after expiry time.

*Basic Plan* In Basic Plan you get Following Profit : Invest Money 30000/PKR Profit 6000/PKR Monthly Time Period 1 Year

In Basic Plan you have to invest 30000/PKR once in our company and you will get 6000/PKR monthly till next 1 Year. Profit will transfer in your Account at 1-Date of Month.

A: Fixing the amount of profit based on one's capital investment is not permissible. This amount received is interest.

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

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Business and Dealings›Investments and shares

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