Loans for starting business and financing working capital : billing insurance companies and loan to start a business

السؤال

Asslamualaikum I am taking the liberty of writing you directly on a subject that I need some clarity on. I am an Indian Muslim and I run a offshore medical transcription company (offering a service to doctors in the US transcribing their dictation on patients they see / treat / operate on.) My first question relates to a business I would like to start. There is an opportunity now to offer services apart from transcription to healthcare providers in the USA like clinics and hospitals in the form of medical billing services. I am sure you are aware of this business however I will explain it a little here for the sake of clarity-Since most people are covered under some form of health insurance in the US, doctors most often have to collect their reimbursements for services rendered from the health insurance companies that cover their patients. The healthcare providers have to follow some procedures like filing claims (bills for services performed) with the health insurance companies and then have to follow up with these companies until they get paid. Such services can be outsourced to companies that do this for a percentage of the collections and they are called medical billing companies. I am now interested in setting up a offshore medical billing business in India. My question is-would this a Halal business to do since we would be collecting funds from the health insurance companies on behalf of the doctors ? My second question relates to the funding of this business. I have a partner (Indian Muslim) in the USA, and he has suggested that we buy a US medical billing company so that we can get a ready platform from which to start. He says that the usual way to do such acquisitions is by investing only a small part of the purchase price, with the rest being funded by seller financing (where a seller agrees to accept a majority of the value of the company in deferred payments over 1-2 years) and the rest by bank loans to cover the reminder. The bank loan will obviously carry interest but my partner says that is the normal way to do these acquisitions in the USA. Can this loan from the bank for the purpose of buying the business be considered Halal ? Wassalam,

جواب الفتوى

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تاريخ النشر

2006-06-20

التخصصات الرئيسية

العلوم الاقتصادية والمالية وإدارة الأعمال
الدراسات الإسلامية

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-790424

• APA
• MLA
• AMA