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Entering into a partnership with a person whose capital will be from an interest bearing loan

Answered according to Hanafi Fiqh by Muftionline.co.za
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Q: My brother wants to enter into a partnership business with another person whose initial investment in business is taken from an interest bearing loan. Is he allowed to enter into a partnership business with him? Will the profits earned by that business be halaal or haraam?

Bismillaah

A: The partnership is permissible, but it is not advisable to take such a person as a partner who is not conscious about deen.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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