Investment ; permissible ? : partnership whose income is not purely Halal

Fatawa Question

Dear Dr. Monzer, Assalamu Alaykum Wa Rahmatullah Wa Barakatuh, Asslam-U-Alaykum, I want to start my own business and I have found a person who is willing to finance me in exchange of share in the business. I know the source of income for that person is not purely Halal and it’s not Haram altogether as well. She runs a business that sell telephone systems on lease (lease in a way that is not considered a right way in Islam) and direct cash payment (which makes the Halal portion of her income). I want to know is it right to accept her finance as long as the business I would be running will not be involved in any kind of activities not allowed in Islam and would be completely independent of her other business. I live in UK and it is very hard to find a finance that I can say is completely pure with limited resources. Even if I go to banks for loan, most of the banks themselves are involved in interest based activities. Can you please also support your answer with example from Prophet Muhammad (peace be upon him) life if possible. Any case where he may have prohibited or allowed someone from using money whose source was objectionable to invest in something that was complete Halal. I would also like to ask if you are working for a company that is involved in interest based activities and you are working in a department other than finance department. Is it ok to work for such an employer ? Will your income be considered Halal ? Thank you very much for your time and services. May Allah bless you for your efforts. Jazakum Allahu Khairan for your constant help Yours, Nida

Fatwa

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Publication Date

2009-01-27

Main Subjects

Financial and Accounting Sciences
Religion
Islamic Studies

Topics

• Islamic jurisprudence
• Sales
• Contracts
• ٌLeasing
• Income
• Investments
• Loans
• Food
• Corporations
• Usury
• Partnerships
• Mubah
• al-Halal and al-Haram

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-734372

• APA
• MLA
• AMA