Fatwa #4440626 April 2020Nigeria

I want to know if this investment is Halaal or not?

Checked by Mufti Ebrahim Desai

Question

Assalamu laikum, may Allah increase your Iman.

I am into an investment which allows for a minimum deposit of $300 and a maximum of $140,000, after which I will get 20% of the initial deposit after every two months. I want to know if the investment is Halal or not. Does it contain riba or not?

Thank you.

Jazakumullahu khairan.

Answer

Assalamu alaykum warahmatullahi wabarakatuh

A fundamental principle for any investment to be halal is that a person recieves a percentage of the profits earned and not a percentage of the capital invested.

The enquired investment is not permissible as you will be receiving a percentage of the capital you invested.

And Allah Ta'ala knows best

Checked & Approved by,

Mufti Ebrahim Desai

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