Q: I need my cousin to invest 50 000 for a service that I offer which is finding clients for private electricity pay as you go meters. My cousin is asking me to pay him back with extra benefits (cash) which I think is above the loan amount. Is there a special deal we can make to meet his requirements because I really need this as capital or is borrowing from absa shariah loans a better way to go?
A: Taking a profit against a loan is interest. Any extra amount you give him over and above the loan will be pure interest and hence haraam.
And Allah Ta’ala (الله تعالى) knows best.
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