Q: I have paid 50% money for owning a business firm and the owner put a condition that I must pay the balance 50% within 6 months’ time and I have to give the money from foreign country where he is working. I can run/own the business only after paying the full amount. After 5 months, I asked my friend to join the partnership with this business by paying the balance of the money from a foreign country and he is ready to join also. However currently the value of this business is increased during this 6 months duration. So, can I reduce his partnership percentage to 30% as per current value of business firm and actually he paid 50% of the total value (It means he has to pay more money than actual value that I brought as per current market price). Is it become permissible as per Islamic rule?
A: If both of you mutually agree to him owning only 30 percent then it is permissible.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Mufti Ebrahim Salejee (Isipingo Beach)