Message No : 21Sr.No : 639/725
Question By : saud solanki

Assalamualikum warahmutuAllah,
like to ask a query whether we invest in air ticketing business i.e a person is running tours and travels business which he uses our money in purchasing International Air tickets for his reliable customers and his customers make the payments of the tickets after a week . For this the person which utilizes our money gives a margin of 3% i.e (3%profit) from our capital amount in the given period. From that 3% margin the profit shared as 90% -10% between us. I like to ask that is it o.k to take fixed margin income as he says i am having a profit of 3% only in Air ticketing.
Kindly reply
Saud Solanki

 

Reply By : Jaseemuddin Qasmi
Designation : Coordinator Online Darul Ifta 

A. To take fixed margin of the capital is considered usury in Islam. And usury is strictly prohibited in Islam. The Islamic way is that you should fix the percent of profit not the percent of capital. For example if you give 1 lakh rupees to him and fixe for you 5 percent and he gets 10000 as profit then you will deserve 500 not 5000 rupees. If he does not get any profit then you will receive nothing.

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