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I would like to know if that profit that I made is Halal

Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh.  (May Allah's Peace, Mercy and Blessings be upon all of you)

 

One of our brothers/sisters has asked this question:

Question:ASALAMOU ALYKOUM BROTHERS, I would like Fatwa about my Question, which is,

 

I bought a flat with 30000 Mortgage, and three years later I sold the Flat for 120000, I did payed off the mortgage that I had with the Bank and with

 

Profit that I made from the property that Isold I bought another Flat with cash.

 

I would like to know if that profit that I made is Halal, and if the property that I bought is also Halal

 

(There may be some grammatical and spelling errors in the above statement. The forum does not change anything from questions, comments and statements received from our readers for circulation in confidentiality.)

 

Answer:


 

Profit from Interest

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is no one (no idol, no person, no grave, no prophet, no imam, no dai, nobody!) worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

 

The act of buying a flat on mortgage, and thus dealing in an-interest based transaction is forbidden, wrong and a sin in the Sight of Allah Subhanah; and if one did commit a sin in ignorance of the Divine Law, one must make sincere Taubah and seek repentance from their Lord for their sin. It is expected that they will find their Lord Forgiving and Merciful.

 

Allah says in the Holy Quran Chapter 3 Surah Ale Imraan verse 135-136:

Allah likes such good people very much, who, if ever they commit a base deed or wrong their own soul by the commission of a sin, remember Allah instantly, and ask for forgiveness from Him for their shortcomings. For who, but Allah, can forgive sins? (And Allah loves those) who do not knowingly persist in the wrongs they did. These will be rewarded with forgiveness from Allah, and with Gardens beneath which canals flow, and they will reside therein forever! How excellent is the reward of those who do good deeds!

 

Your Question: I would like to know if that profit that I made is Halal, and if the property that I bought is also Halal

If one commits the error of engaging in an interest based transaction in ignorance, one cannot say with conviction that the profit made from the sale of that property, nor the property bought from that profit is all haraam. If one realizes his error and transgression of the Divine Law, seeks sincere repentance from his Lord for his error and makes a solemn covenant with his Lord that he will never ever indulge in interest again, it is expected that Allah Subhanah will accept his repentance.

 

In such a case where the person has repented for his transgression, the scholars in Islam are of the opinion that the person may keep his profits, spend of it on himself and his family and give Allah His due right from his excess wealth.

 

Whatever written of Truth and benefit is only due to Allahs Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

 

Your brother and well wisher in Islam,

 

Burhan

 


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