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Fatwa #2332530 November 2012United Kingdom

Question related to a partnership

Answered by Azaadville, South AfricaChecked by Mufti Ebrahim Desai

Question

SALAMS

I INVESTED IN A BUSINESS WITH A FRIEND IN PARTNERSHIP,FOR 6MONTHS I WITHDRAWED MONEY FROM THE BUSINESS.

AFTER A PERIOD I SOLD MY SHARE OF THE BUSINESS TO MY FRIEND,AFTER A WHILE THE BUSINESS FAILED.

AM I ELIGABLE ISLAMICALLY TO PAY THE MONEY WHICH I WITHDRAWED IN THE  FIRST 6 MONTHS WHEN I WAS A PARTNER TO MY FRIEND AFTER I SOLD MY SHARE.

Answer

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ʿalaykum wa-rahmatullāhi wa-barakātuh.

The details provided in your question are vague. Kindly resubmit your question providing the following details clearly:

1.      Did you withdraw the money before you sold the business or after you sold the business?

2.      On what basis did you withdraw money from the business (i.e. was it remuneration agreed upon, profits agreed upon, a loan from the business, or something else)?

3.      Did your partner agree to you withdrawing money when you done so?

Also, provide as much other details as possible related to the question in a clear manner.

And Allah Ta’ālā Knows Best

Mahmood Patel
Azaadville, South Africa

Student Darul Iftaa

Checked and Approved by
Mufti Ebrahim Desai.
www.daruliftaa.net

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