Fixing the amount of profit based on one's capital investment
Question
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.
Answer
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 by
- Mufti Ebrahim Salejee (Isipingo Beach)
Fatawa SA is an independent, read-only index of fatawa already published by Mufti Online — Madrasah Ta'leemuddeen. It is not a fatwa service. For your own situation, ask the issuing Darul Ifta directly.