Opening a joint venture, and after the sale was completed, the right of some of the partners was delayed, and he wishes to compensate them by increasing their shares
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Q: I opened a joint venture in land, with a duration of twelve days. After the period ended, it turned out that the profit of the joint venture was (10%), but I delayed paying some of the partners for about a month. I told the agents to tell the partners to be patient with me and that I would increase their profit percentage as compensation for my delay in payment, and they told them that. What is the legal ruling on my action? If I have paid them the increase I promised, what is the legal guidance regarding those amounts?
A: What the questioner offered to the partners, which is giving them an increase in profits in exchange for delaying them for a specific period, is not permissible, as it is similar to the riba of the pre-Islamic age of ignorance that Islam forbade, where the creditor would say to the debtor: "Either you pay or you increase." Based on this, what was paid to the partners in this manner must be returned by them, along with repentance and seeking forgiveness from both the payer and the recipient.
A: What the questioner offered to the partners, which is giving them an increase in profits in exchange for delaying them for a specific period, is not permissible, as it is similar to the riba of the pre-Islamic age of ignorance that Islam forbade, where the creditor would say to the debtor: "Either you pay or you increase." Based on this, what was paid to the partners in this manner must be returned by them, along with repentance and seeking forgiveness from both the payer and the recipient.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.