Interest bearing transaction

Submitted by admin on Sun, 2016-02-21 07:30

Q: I have an idea to build a website that has the following process:

1. The people invest in my website

2. I Invest this money on other things

3. I have profit with this money

4. I give the money back to him/her For Example: Someone invest $10 in my website, then I re-invest this money on other websites. I have $25 in revenues, then I give to him/her $11 back. The main goal is that I want the people invest in my website, then they will have a secure profit, for example for each $10 they invest i will give to him/her $1 profit. The problem is that I don't know if that is haram because the interest or if it is, please give me a way to make it halaal.

A: This is interest. Hence it is not permissible.

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

Labels:

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