Fatwa: # 45477
Category: Jurisprudence and Rulings...
Country:
Date: 15th September 2020

Title

Investing in Bitcoin & Crowdfunding - Is it permissible?

Question

Salaams,

I hope you're well. 

I would like to know if two things are permissible to invest in;

1. Bitcoin

2. Crowdfunding on buy to let houses properties in which you are part of a purchase of a house which is already built and you receive ren't payment for that house according to the percentage you contributed to by the house. It doesn't involve interest or loans. Some examples of companies are yielders and crowd2let

JzkA.

Answer

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

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

1.     Kindly refer to the following link for information on Bitcoin.

http://askimam.org/public/question_detail/39083

2.     Crowdfunding is the use of small amounts of capital from a large number of individuals to finance a new business venture. In the scenario in reference, a group of small-time investors pool together to collectively purchase a property wherein ownership is in proportion to the capital invested. Thereafter, monthly rental is shared amongst the investors in proportion to one’s ownership in the property. If the property is sold, the profits are shared in proportion.

The concept outlined above is in itself permissible as there are no aspects that are contrary to the laws of Shari’ah. However, the Darul Iftaa cannot issue a ruling with regards to any specific company such as yielders or crowd2let without first assessing their actual contracts. You may obtain the respective contracts and forward them to us at admin@daruliftaa.net Ref: Bilal Pandor.

 

And Allah Ta’āla Knows Best

Bilal Yusuf Pandor

Student Darul Iftaa

Lusaka, Zambia

Checked and Approved by,
Mufti Ebrahim Desai

 

 

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