Buying properties on interest loans : buying equipment on bank loans
Fatawa Question
Assalam Alakum, I really appreciate your help by answering this question. 1 : I invested with a group of doctors in a hospital, where initially they gave me the impression that no bank loans will be used, however after about a year the board of directors has decided to take a bank loan, which involves a markup. The loan is intended for buying equipment for the hospital and initial running including employee salary. 2 : as a partner I will be provided a free clinic and an attendant. And when the hospital start making profit my share according to my investment. 3 : if I withdraw from the group now I won’t receive my invested funds for 2 years as per contract. 4 : what is my best course of action ? Totally withdraw from the project or can I utilize the option of using the free clinic but not accept any profit made by the hospital forever or for the time period that the loans are paid off. So I will be utilizing my share of investment other than interest. Jazak Allah.
Fatwa
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Publication Date
2008-01-22
Main Subjects
Economics & Business Administration
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
2
Data Type
Fatawa
Language
English
Record ID
BIM-729710
American Psychological Association (APA)
Qahf, Mundhir. 2008-01-22. Buying properties on interest loans : buying equipment on bank loans. .
https://search.emarefa.net/detail/BIM-729710
Modern Language Association (MLA)
Qahf, Mundhir. Buying properties on interest loans : buying equipment on bank loans. 2008-01-22.
https://search.emarefa.net/detail/BIM-729710
American Medical Association (AMA)
Qahf, Mundhir. 2008-01-22. Buying properties on interest loans : buying equipment on bank loans.
https://search.emarefa.net/detail/BIM-729710