Working in network sale of gold : selling gold in net work marketing

Fatawa Question

Network marketing, getting commissions and buying gold products at a higher price due to its numismatic value. Dear brother in Islam may the Almighty Allah reward each and every one of you at Islamonline for this truly invaluable service to Muslims. The Name of the company is Gold Quest international, registered in the British Virgin Islands and based in Hong Kong with offices in many countries around the world. They are a network marketing and gold Products retailing company. Their business plan is truly unique as it is not pyramid where only the people who join early benefit but every individual joining them can depending on the effort and hard work he puts in gain varying amounts of commission. Basically to join one has to buy one of their Products (Outright purchase approx. 860 USD or option of partial payment USD 460 and balance can be settled interest free at our own pace or join compensation plan. (payment by cash, credit card or telegraphic transfer) Moment one joins with either option we are assigned a TCO ID (tracking center owner ID) which in reality is like establishing our own global company on the Internet with a manager, accountant etc. as all the progress made by us in introducing new clients. commission paid out etc., is recorded and revealed when we display our site). We are expected to set up a left sales group and a right sales group of customers. We all work as a team thus when 1 person in the up-line introduces a new client everyone on that side of the sales group benefits by it and vice versa and we try and develop either side. Momentarily we have 5 on each side the individual is entitled for a commission of USD 400 or say if 10 joined on each side then its USD 800 etc. The plan is that every 5 on the left and 5 on the right we get 400 USD. As Customers we are very happy with the arrangement. There is no cheating or fraud involved, The Company is transparent in all of its dealings and management can be consulted at any time for clarifications and the mission statement of the company is rythm (raise yourself to help mankind) Their original business plan always had a bigger purpose and not just money making. They do not reinvest their extra profits but use it for social and religious purposes catering to all people on the planet. (E.g...If say in my country we need to build a hospital or a mosque we can provide a blueprint to Gold Quest Int. and if they feel that its a worthy cause they finance 90 % of the project with their excess profits). They have absolutely no political inclinations and do not support any Govt. but actively supports the united nations (FAO and Unicef) The end result...individuals have an opportunity to seek an extra mode of income to supplement their usual salaries by hard work and dedication which comes with introducing new clients (Involves training and presentations and promotions). Yes... we pay a higher price for the Gold but paying a higher price for the Gold used as a product is deemed permissible as per previous Fatwas issued and not if used as a monetary unit (Please confirm again in your answer) thus in this case these products are all minted in limited quantities and become collectors’ items eventually and cannot be used as a monetary unit. Based on the above details please advise us if we can pursue this business whole heartedly and without doubt based on the Islamic Shari’ah as your verdict will benefit thousands of Muslims worldwide. Jazzakallah Khairan...... Please forgive me for the length of the explanation but it is imperative that I do justice to my Iman and Taqwa by being completely honest about the mechanism of this business. Notes : Assalamu Alaikum dear brothers in Islam there have been previous questions asked about this company and I have read your verdicts Ma Sha Allah but felt that the details of the actual operation of the business was not portrayed completely by the previous questioners thus please bear with me if the question has too much detail but it involves the welfare of thousands of Muslims around the world (already active members of Gold Quest international)thus clarifying it and clearing our doubts would be a truly great act on your part for which the Almighty will reward you all immensely and also we know that our hard work and dedication results in a Halal income and financial freedom for everyone who is participating in this business. Jazzakallah Khairan.

Fatwa

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Publication Date

2002-06-15

Main Subjects

Economy and Commerce
Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• Sales
• Electronic commerce
• Gold
• Network marketing

No. of Pages

3

Data Type

Fatawa

Language

English

Record ID

BIM-724998

• APA
• MLA
• AMA