Category: Business Matters
Fatwa#: 37263
Asked Country: United Kingdom

Answered Date: Nov 20,2016

Title: Investment contracts of Heera group

Question

I have invested money in Heera group ehich is fighting against Riba. The company is doing buisness with Gold, Textiles, Mineral water, Food Products, Hajj and Umrah service. We can invest money only in Gold, Textiles, Food Products. In Gold investment, company is giving 40 percent profit to the customer and 60 percent company keep with them. On textiles and Food products, 50 percent profit is given to the customer and 50 percent company keep with them.So, please tell me the investment i have done is correct as per shariah and the profit i am receving is Halal? Please suggest me that shall i continue with the buisness or quit it. - Jazakallah Khair. 

Answer

You may forward to us the investment contracts of Heera group for our observations and advice. You may email the attachments to admin@daruliftaa.net 

 

And Allah Ta’āla Knows Best

Saad Haque

Student Darul Iftaa
New Jersey, USA 

Checked and Approved by,
Mufti Ebrahim Desai.

 

DISCLAIMER - AskImam.org questions
AskImam.org answers issues pertaining to Shar'ah. Thereafter, these questions and answers are placed for public view on www.askimam.org for educational purposes. However, many of these answers are unique to a particular scenario and cannot be taken as a basis to establish a ruling in another situation or another environment. Askimam.org bears no responsibility with regards to these questions being used out of their intended context.
  • The Shar's ruling herein given is based specifically on the question posed and should be read in conjunction with the question.
  • AskImam.org bears no responsibility to any party who may or may not act on this answer and is being hereby exempted from loss or damage howsoever caused.
  • This answer may not be used as evidence in any Court of Law without prior written consent of AskImam.org.
  • Any or all links provided in our emails, answers and articles are restricted to the specific material being cited. Such referencing should not be taken as an endorsement of other contents of that website.