Q: I want to buy a business with a Muslim friend, and I want to avoid using an interest bearing loan from the bank. My friend has studied the issue of interest and holds the opinion it is permissible in this country. If the bank agrees to loan the money to my friend whilst I make a contribution towards […]
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Do we have to verify the source of income of an investor before going into partnership with them?
Q: We are planning to start a school in India. Our intention is to start with a conducive learning environment to our Muslim children without compromising our ethics and values, which is totally missing in non-muslim institutions. Though the school is based on a business model, all investors have agreed to pay back 40% of the […]
Read more...If I invest in a partnership with other parties, do I need to verify whether their source of finance is Halal?
Q: If I invest in a partnership with other parties, do I need to verify whether their source of finance is Halal? الجواب حامدا ومصليا ومنه الصدق والصواب A: If you have reason to believe that their source of funding does not conform to Sharī‘ah then you must actively ascertain as to whether that is indeed true. If […]
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