Q: Myself and my cousin own a joint business venture. Our ownership and profit sharing percentage is 50/50. Can I bring my son into the business by selling him 10% of my shareholding? Do I need my partner's permission for this or not?
Q: We are a few partners who bought a property. One partner gave R1 million and the others gave R5 million. Before selling the property, we told the partner who gave R1 million that we will give him R20 000 of the profit. Hence, we fixed the amount of profit to be given to him before selling the property. After selling the property, we gave him R20 000. Is this permissible?
Q: We buy some property. One partner only gives 10 lacs while others give 50 lacs. Before selling the property we say to 10 lac partner that we will give you 20000. After selling the property we give him 20000 to him. We fixed the amount before selling the property. Is it halaal or sood?
Q: A family buy a property. In this property, some of the same family members, who bought the property, reside and some do not.
Because some family members are taking benefit from this house and some are not, do those who are taking benefit have to pay rent to those who are not? If those who are residing in the property have to pay rent, how will the rent be calculated?
Q: Zaid went to China to buy goods for 1 million. On reaching there, Zaid found out that the goods with the freight would cost 1.2 millions. Amr is ready to help him with the 0.2 million. Amr would like to know how he can join the business of Zaid so that he also can get some profits. He was told that he can't do mudaaraba as the transaction was already initiated.
What "aqd" can he do in this case? Shirkat? If so, are there any conditions attached to it for the aqd to be correct?
Q: My brother wants to enter into a partnership business with another person whose initial investment in business is taken from an interest bearing loan. Is he allowed to enter into a partnership business with him? Will the profits earned by that business be halaal or haraam?
Q: I earn a living by selling cars. I go to auctions and buy second-hand cars. Thereafter, I leave the car with a dealer who has a showroom. The dealer sells the car for me and we split the profit according to a pre-agreed percentage (e.g. 50% each).
Before selling the car, the dealer sometimes has some work done on the car such as repairing wind-screen chips, touching up the paint, changing the tyres, etc. The cost for this work is deducted from my share of the profit. Is this permissible?
Q: I want to start a business and I have an idea. The problem is that the idea is so easy, if I go with this idea to a traditional investor or Venture Capital firm they will copy the idea or start it on their own.
I don't have any capital to start the business so I can start the business with help crowdfunding. Will the business income be halaal?
My intention is clear that when I start making profit, I will start returning the money to the people or via the same way I got it, or I will donate the same amount of money to others.
Another thing is, can I use some money to buy a house with the capital raised because we are living in a rented house for a very long time and i want to buy a house.
Until I don't return the full capital money as I said above, is it permissible to donate some part of the income to other people in need?
Q: I own a 50 % share in a barbershop business and my partner wants to buy my share out. My portion cost me R30 000 18 months ago when we started the business. I earn between R5 000 and R6 000 profits per month for my portion. I would like to know that if I agree to sell my share will I be able to ask for a higher price than what I originally invested. I was looking to ask for R75 000 as I am earning well monthly from my dividend.
Q: I am deciding to start a new business venture. I only found out later into a partnership that my business partner is gay. What is the ruling islamically.