Q: Is it permissible to invest in the following company? This is the details from the company. Investment Plans is actually a Program in which Users have to Invest Amount in our Company and can get Profit Monthly till Specific Time Period. It is just like a Bank where you deposit money and get profit. Remember if you invest Money in Our Company in any Plan, then your deposit money is non-refundable after expiry time.
*Basic Plan* In Basic Plan you get Following Profit : Invest Money 30000/PKR Profit 6000/PKR Monthly Time Period 1 Year
In Basic Plan you have to invest 30000/PKR once in our company and you will get 6000/PKR monthly till next 1 Year. Profit will transfer in your Account at 1-Date of Month.
A: Fixing the amount of profit based on one’s capital investment is not permissible. This amount received is interest.
And Allah Ta’ala (الله تعالى) knows best.
Answered by:
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)