business

Receiving interest on a loan

Q: My friend is asking me for Rs.100 for a business and he is telling me that he will give me the money after 1 week along with 2.3% of the Rs.100, that is after 7 days he will give me Rs.116. Can I take this Rs.116 or is it haram?

Moreover he is telling me how much you give me I will give you after 7 days with 2.3% of your invested money. Please clarify, if it is halal I will proceed otherwise I will not.

Using Google TEZ to make money

Q: Google recently launched an application named TEZ where transactions can be done between banks to banks. Google TEZ also provides some great offers such as scratch cards, and other offers when we use that app or refer friends to this application. We can be able to earn some money through referals and transactions. Can I participate in this referal programs and transactions so that I can earn some money through that (intention is to earn money) . Is this money halal or haram? I have done transactions only because of getting money or gift cards or scratch cards which contains some money, for this I transfer some money to my friends account and he returns the same money after getting those gifts, is this criteria halal or not?

Using interest money to pay off interest from a bank

Q: My father started a business, but after some time, one of his staff engaged in fraud, causing the business to become bankrupt. Now, because my father owes money to many customers, he took a loan from the bank to pay them back. However, this loan is accumulating interest which my father will have to pay to the bank. Can I use the interest money that accrues on my account which is separate to my father’s account, to pay the interest amount that my father owes to the bank?

Using a gray market phone

Q: I bought a brand new xiaomi smartphone in 2016. But the next year after I checked on government regulations website, my phone was "indeed" proven illegal. Illegal here means imported without any permissions from the government (not stolen, I already know the rules about stolen items). So no doubt about this. This leaves me questions:

1. What is the ruling for anything that we bought, we didn't know it is illegal at the beginning, but then it is proven illegal afterwards? (again, illegal here = "avoid taxes" not stolen items)

2. Am I allowed to continue using this or should I get rid of it?

3. What level of investigations should every Muslim do for each business transaction like this? 

Subjecting one transaction upon another

Q: My friend is planning to buy a petrol station. However, he requires R3 million and he only has R2 million with him. He asked me to help him by giving him R1 million so that the petrol station can be registered under his ownership. Thereafter, we will follow the conditions below:

Condition 1: He will give me full access to run the business for 3 years and all expenses and profits will accrue to me. He will have no share or involvement in the business for 3 years.

Condition 2: I have to give him a monthly rent (as per the current market in that location) for running the business on his property.

Condition 3: After 3 years, he will return the R1 million which I had given to him at the beginning. He says that this money will be considered as a security deposit and any damage or loss occurred during these 3 years will be deducted from it. Is this deal halaal or haraam?