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View By Subject 85 fatwas
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Whether partner in business partnership is entitled to salary
Assalaamu alaykum. 'A' brought a business concept and requested me to invest. I and two friends agreed to invest. 'A' agreed to manage the business. 'B' is a finance professional and agreed to look after the finance management. 'C' is a marketing professional and agreed to support the marketing.
Questions: 1). Who is the owner of the business; only.. More
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Partnership in company that sells alcohol
We are a software company that went in partnership with another company to build a software to run and manage festivals. In return, we got an equity from that other company. Afterwards, we realized that most of the revenue is coming from the sale of alcoholic beverages. I have two related questions: 1. Is it okay to own an equity in the festival management.. More
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Business partner does not contribute money or effort to the joint business
Assalaamu alaykum dear Sirs, I am a business man. We agreed, my friend and I, to establish a business for supplying the companies with industrial materials; this type of business particularly depends on the cash flow for buying the materials and then sell them to the companies, and it also depends on business expertise and experience, like searching.. More
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Keeping money in someone else's bank account entails sharing profits
Assalaamu alaykum. If someone deposited money in my savings account for safekeeping (alongside my money) and the Islamic bank gives me profit on the overall amount at fixed intervals, is it ok for me to use that money? Or is there a share in that profit that needs to go to this person who has deposited his money with me? If the latter is true, then.. More
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A co-owner has the right to document his share in a property
7 years ago, my wife and I came to an agreement to build a house in my home so that my mother and family live in it, but to transfer it to my name at the first opportunity and my wife agreed to it on this condition and designed the map and it took around 370,000SR. now my wife says change the house to my name as we agreed while my family continue living.. More
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Assigning a share of the capital to the agent in Mudhaarabah
As-Salaamu 'alaikum wa rahmatullahi wa barakatuhu..., Firstly I would like to thank all of you for your efforts in providing such a noble service for the Muslims, we certainly appreciate it very much. May Allaah ta'aalaa reward you all immensely for your services. To proceed, I understand that one can engage in a business partnership contract, specifically.. More
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Funding a TV program that earns fixed returns
As salaam alaikum, My friend is a creative director on a tv channel he has to sign a contract with the channel for 12 mnths to supply them 8 episodes every month on crime against humanity he has a team ,skill contacts but he is financially very weak he has offered me to fund his skill n project and he will share a pecantage of his profit that is fixed.. More
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Father is not obliged to give his son a share of his business profits
assalamalaikum brother,we are living in a joint family i.e my father mother elder brother his wife and 2 chilrens and myself and my wife and two chilren. My father owns the business which is been looked after by my elder brother since last 15 years and i have also helped in them in various difficulties during the running of the business. In the year.. More
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A Mudhaarabah transaction with a fixed profit and unfixed tax rate
There is a business which is run by government,in which profit is apparently fixed because at the time of taking profit from them,they impose tax on profit with unfixed rate,therefore the profit amount is changed because of this subtraction.. Is this Halal as the profit is NON-FIXED at the time of collecting it?Like I invest 100 dollars,for one year.. More
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Some rulings concerning Mudhaarabah
As Salaam Alaikum Brother, I wish to enquire about an Investment plan offered by an Islamic Bank in Qatar. Plan as follows: - 10,000 dollarsshould be available in my aaccount at any given time. - 1.5% of the above amount is charged as Entrance Fee and it is "one time charge". - Returns are every Quarterly ranging from 3-8% of the invested amount. Can.. More
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Mudhaarabah with guarantees from the entrepreneur to ensure the absence of misconduct and negligence
As Saamu Aliku, We are in INdia,No Islamic bank or rule,so we establish a society to help poor Muslims and save them from Interest. Urgent Pls . Answer the following question : Society invest 120 thousand for one year with a business man and Share in profit or loss.But in India we do not have the power if the business man runs away society may lose.. More
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The terms of a partnership must be honored
I have bought a property in Pakistan where my uncle worked as a commission agent. We agreed that we will share the profit of property as 50/50. To buy that property I had to take loan from the bank and on that loan I paid interest of nearly £2k plus the currency rate of the british pounds is gone up to 27 rupees (from 155 to 177). Now when we want.. More
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The difference between Mudhaarabah and Mushaarakah
What is the difference between Mudhaaraba and Mushaaraka? .. More
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A case of defective Mudhaarabah
I (Ayaz Taimuri) have invested Rupees Five Lac in a Business investment of Sales and Purchase of Computerized Embroidery Machines, with my Brother-in-Law (Raheel Sabahat) on the following Business Investment terms & conditions in writing on a Stamp paper on 1st Day of May, 2012 duly attested by Notary Public. On the execution of this investment.. More
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His uncle wrongfully takes money from father's company
Assalamu Alaikum I am in a bit confused state now. My father is a very kind man. we are settled in middle east and are doing business for a long time. My uncle is also in the same country. So when my uncle(fathers elder brother) lost his job, my father took some money from him and gave him some share in our business. Now my uncle is misusing this share.. More
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