Category: Business Matters
Fatwa#: 41379
Asked Country: India

Answered Date: Nov 12,2018

Title: Profit from unknown company

Question

Dear Mufti Sahib, Hope you are in good health and long life. This question I am asking for second time, I request you to answer me as soon as possible. In 2016 I invested Rupees 20 Lakhs in a muslim company doing business in Gold and Textile and they convinced me that they are giving Halaal Benefit as per Shariah law i.e. it will not be a fixed profit , you should share both in profit and loss and said that owner of company is Alim-e-deen and company is fighting against Riba to save muslim ummah from trap of interest (Riba). Till April 2018, cumulative benefit I received from company is Approx. Rupees 8 Lakhs. Now through strong sources I came to know that company does not have any business, it’s a Ponzi scheme or if at all they are doing business they are doing online gold trade business like Bitcoin etc----- , Then immediately I applied for withdrawl of my principal amount (Rs 20 Lakhs ). My question is what about Rs 8 Lakhs which I received in name of Halaal Benefit and spent completely on my family and personal needs. After I receive my principal amount Rs 20 Lakhs, shall I have to take out Rs 8 Lakhs from it and distribute among poor or No need. Please advice. Jazakallah Khair

Answer

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

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

You stated the owner of the company is an Alim of Deen. He stated that the investment is according to Shariah. 

You should refer to the Alim in reference to clarify the information you received about the company and satisfy yourself personally. Do not rely on an indirect source for information.

 

And Allah Ta’āla Knows Best

Mahomed Yasser Yunus Hussen

Student Darul Iftaa
Mozambique

Checked and Approved by,
Mufti Ebrahim Desai.

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