Fatwa #332083 June 2015India

Auction Business

Answered by Ismail DawoodjeeChecked by Mufti Ebrahim Desai

Question

I have investment with my cousin brother. Who do auction business And he give me fixed profit every three month or six month And i have seen him buying old car for that. It is halal pls reply salam

Answer

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

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Your query is not clear. In order for us issue a ruling we require more details on your investment and partnership. You may forward your contract and details to admin@daruliftaa.net.

And Allah Ta’āla Knows Best

Ismail Dawoodjee

Student Darul Iftaa
Zambia

Checked and Approved by,
Mufti Ebrahim Desai.

www.daruliftaa.net

#22873There are two persons that want to start a business. One of them is going to invest in the business and the other is just going to look after the business. Could you kindly give me the options that they may use and how will the profits be shared?
#46265Investing in a fixed profit - Is this Halaal?
#16884Mahomed wanted to open a business. He approached his friend Zaid for help. at partnership(50/50). Mahomed invested R60000.00 and Zaid invested R60000.00 plus the equipment..How do Zaid and Mahomed dissolve this partnership?
#193451. I have invested little money with agents who give 7% commission on every transaction. Would it be correct to... 2) we store potatoes as a normal practise. But when we store it, the price is reasonably low and when we see the market is fair enough high we sell it.?
#6875I made investment in scheme where it is locked for six-years which can only be released by end of six years. Do I have to pay Zakat on this investment before it is released to me.
#19315I am establishing a Mudharabah which will be called Yaz Capital Partners (http://www.yazcapital.com) to raise funds to invest in real estate in the United States. I have some questions regarding setting up a business. Would it be permissible to setup the business in this manner?
#6103A builder friend of mine told me that people are benefiting from him as they put their money in his business and he pay them fix rate of 2percent per month
#18478I’m doing a business investment with a broker whereby I am investing the money on a capital guaranteed basis for 12 months. In profit we are 50/50 in loss the capital is guaranteed. Kindly advice if this is this Shariah compliant.

Something wrong with this record?

Question

Answer

Related rulings