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Our parents have given us money to start a joint family business co owned by my other two brothers. Out of that money 60% is from halal sources and 40% is from profit received from bank on fixed deposit by my parents which is obviously not halal. Please advise us is it permissible to utilize: A: monthly salary from this business. B: yearly profit sharing between partners.

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
Our parents have given us money to start a joint family business co owned by my other two brothers. Out of that money 60% is from halal sources and 40% is from profit received from bank on fixed deposit by my parents which is obviously not halal. Please advise us is it permissible to utilize: A: monthly salary from this business. B: yearly profit sharing between partners.

Answer

(Fatwa: 1313/1062/B=1433)

In the case mentioned above, whatever profit is received it shall be halal and lawful. It shall be lawful for the participant to take the profit. Also it shall be lawful to take monthly salary. However, 40% from the profit should be given in charity to the poor with the intention of giving sadaqah of haram money. And when the 40% of sadaqah is paid then all your capital shall turn purely halal and there shall be lots of barakah.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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