Partners in profit loss
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:
Asalam-o-Alaikum,
I have a question related to Investing money and getting profit on it.
I am an engineer by profession. I am jobless since 1 .5 years. I have 2 kids
and have to look after their expenses. As I am not getting job, I gave some
money to my relative on Profit and Loss basis.
He has a business of Poultry farms. So he invested my money in his poultry farm
business and gives my profit after every 45 days. If he suffer from loss, I
will not get profit too. Please note that profit is not fixed.
Now my question is:
Is this profit that I get from him Halaal and Riba free?
(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:
Partners in profit
loss
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 none worthy of worship but Allah Alone, and we bear
witness that Muhammad (saws) is His slave-servant and the seal of His
Messengers.
Your
Question: Is this profit that I get from him Halaal and Riba free?
As long as the business in which your funds invested is
lawful in its essence, and you hold a share in both the profits and the losses
of the business according to your level of participation or investment;
regardless of at what intervals the profits/losses are declared and shared,
such a financial transaction would be deemed lawful in the Sight of Shariah
Law.
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
Wister