[Michmant]

Salaams,
Sorry I know these threads have been raised before but im useless with the search facility.
Need a list of emails addresses/websites where I can contact a mufti to gain a fatwa.
If you can point me in the right direction please do.
JK

[www.forumsovetov.ru]

www.askimam.org/
http://daruliftaa.net/

[lopesmili]

sometimes if you ask the question here you get the answer from the scholars on the site. if they cant then they would advise. so try SF first because sometimes they not major issues.

[Heacechig]

http://www.islamweb.net/emainpage/in...ge=fatwa&tab=3

They have a daily 'quota' of questions which they accept and after that the above-linked page just gives a message saying to try later. You have to try loading the page at different times daily until Insha'Allah you find that the form to submit the question is open and then you can go ahead and submit your question. You can even search through their current fatawa as they have I think probably thousands of fatawa already and usually I am able to find the same thing which I am looking for myself.

You can also do a google search for "whatever you're searching for site:islamweb.net" (without quotes) to bring up results only from their site regarding your query. So, for example, if you wanted to know "do I have to keep a beard", you would type in Google:

do i have to keep a beard site:islamweb.net

Then you can browse through the results and Insha'Allah find the answers. You can do the same for sunniforum.com or any site.

[Michmant]

My question has already been answered on this and even linked to fatwas but I just need a bit more detail and explanation (not for msyelf but to show others) and I do not have the knowledge to do so.

My previous thread was;
http://www.sunniforum.com/forum/show...936#post759936

and links to fatwa are provided but I need a bit more of an explanation.
I apologise for posting the same thing twice and appreciate the patience you have with me but this is really important and i need clarity on this.

I will post my question again/

I have a question for you and hoping you can assist.
I have been told the following principle in Islamic finance is haraam.
I would appreciate your views.

Person A says "Invest in me and I will double your money in 6 months"
Person B says "I will invest £100 pounds and then after 6 months I get £200 back
Person A says "Agreed"

I suppose this would be a fixed rate return.

(I won't go into what or where the investment is going as it is not relevant in this scenario) but is this concept halaal or haraam or would you require more information?

If it is haraam and classed as Riba could you provide me with an explanation as to why this would be the case as I know a few brothers who are currently doing this and would like to educate them as much as possible.

[Kneefrenolf]

We have received this question at the Darul Iftaa. InshAllah you will be receiving a response shortly.

[www.forumsovetov.ru]

:O

[Michmant]

We have received this question at the Darul Iftaa. InshAllah you will be receiving a response shortly.

JazakAllah Khair

[77rexulceme]

We have received this question at the Darul Iftaa. InshAllah you will be receiving a response shortly.

السلام عليكم ورحمة الله وبركاته

Mufti saheb, we are extremely happy to see you!

[Michmant]

Received a reply to my email.
SubhanAllah really appreciate the work the brothers do, the organisation they have set up, the time they take to help brothers seeking the truth.
May Allah bless them, answer their duas, elevate their statuses in duniya and akhira and grant them the gardens of Jannah.

****

Answer:

In the Name of Allah, the Most Gracious, the Most Merciful.

As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.

Jazak Allah for your question.



You are correct. In the case you have mentioned, the stipulated return is a fixed amount. In principles of Islamic Finance, the initial amount being forwarded will be treated as a loan since the lender (Person A) is guaranteed the return of his investment (loan). Any surplus over and above this loan, although being termed as a "profit" by the parties is still an interest. The maxim of Shariah states,



كل قرض جر نفعا حرام
Every loan that bears some benefit is haram.

(Al Ashbāh Wa an-Nadhā’ir Pg 226)[1]



The rationale behind this profit being impermissible is that this surplus is not in lieu of any risk. This means that Person B is guaranteed his return. Hence, if Person A manages to make a profit which is exactly equivalent to the “stipulated amount of return”, then Person A will end up with no return at all. Similarly if there is a loss then the nett return for Person A will in fact be negative.

In both these scenarios, while Person B makes his guaranteed return, Person A suffers the loss even though the he did the work and generated the profit. This inequitable treatment is not acceptable in Shariah.



The Shariah Compliant way is to enter into a Mudharabah Contract where Person B gives the money to Person A and secures a share in the profits. In the case of Mudharabah, Person B does not own any portion of the Person A’s business, rather he entrusts the money to Person A to carry out trade with his money. The parties allocate a percentage of the returns beforehand. These returns are a percentage of the profits and NOT of the capital. If they experience the profits then these profits are shared at the end of the Mudharabah in these stipulated percentages.



However, if the Person A incurs a nett loss in the Mudharabah then this loss will be taken out from the capital investment and since there is no surplus over the capital, Person A will not earn anything at all. He will suffer the loss in the form of zero return from all his labour.



To read further about Mudharabah Contracts, please refer to :

http://daruliftaa.net/sharcompliancy...o-Finance.html



And Allah Ta’āla Knows Best

Mawlana Faisal bin Abdul Hameed,
Student Darul Iftaa
Montréal, Canada

Checked and Approved by,
Mufti Ebrahim Desai.

[rNr5Di3S]

masha Allah...he is back. you were missed sir abu hajira : D

[SeLvesTr]

We have received this question at the Darul Iftaa. InshAllah you will be receiving a response shortly.

Extremely happy to have you back.