Which type of business is halal.
1. if i give money to someone to buy a car. and so he bought a car. so he is now owner of that new car. and every day he earn money for example ( lets say , he earn 2000 so he give me 300 everyday when he go for work ) is this kind of business will be haram?
2. what if i tell him give me 10% of your income will this will be halal?
3. should i buy that car. so i will become the owner of the car.. then rent that car to him, so he will drive that car and earn money. and he will give me 300 daily. is it haram?
4. he should give me 10% is it halal? because i own that car. ?
which one will be halal.. Thank you in Advance.
Wa’alaykum as Salam wa rahamtullahi wa barakatuhu,
Since you are retaining ownership of the car and intend getting an income, the first scenario will not be an option. At most, you can buy the car, take possession, then sell it to him, and allow him to pay you in installments. However, once the car is fully paid, he becomes the owner of the car, and you then can no more charge him anything further.
The second and fourth scenarios are ideal, since they are based on a Mudharabah concept. The earnings will Halal.
The third scenario could be an option, depending exactly on how you make the agreement.
And Allaah Ta’aala knows best
Ismail Moosa (Mufti)
This answer was collected from Fatwaa.com which is an excellent Q&A site managed by Mufti Ismail Moosa from South Africa. .