The ruling on a group of people who pooled money to invest it, and then one of them took it with an increase
Machine translationRead the Arabic original
The ruling on a group of people who pooled money to invest it, and then one of them took it with an increase
A group of people set aside a sum of money each month—hundred riyals or fifty riyals—in unequal amounts. After a year or two has passed, they use it to buy a specific commodity for the purpose of selling it and profiting from it, either for a cash price or an installment price. Some of the ten or fifteen people ask: if one of them were to take it on installment from the other people, is that permissible or not?
This is not permissible. That is, they are collecting from their salaries one hundred riyals each month, and when a large portion of the money has accumulated with them, they buy a commodity with it for the sake of making a profit.He says: Is it permissible for one of them to take it with an increase?So the answer is: It is not permissible, because this is riba (usury or interest).
But ask another question: Is there zakah (the obligatory alms) on these riyals or not?So the answer is: There is zakah on them; because they are either cash or trade goods if they bought the commodity with them for the sake of making a profit.
A group of people set aside a sum of money each month—hundred riyals or fifty riyals—in unequal amounts. After a year or two has passed, they use it to buy a specific commodity for the purpose of selling it and profiting from it, either for a cash price or an installment price. Some of the ten or fifteen people ask: if one of them were to take it on installment from the other people, is that permissible or not?
This is not permissible. That is, they are collecting from their salaries one hundred riyals each month, and when a large portion of the money has accumulated with them, they buy a commodity with it for the sake of making a profit.He says: Is it permissible for one of them to take it with an increase?So the answer is: It is not permissible, because this is riba (usury or interest).
But ask another question: Is there zakah (the obligatory alms) on these riyals or not?So the answer is: There is zakah on them; because they are either cash or trade goods if they bought the commodity with them for the sake of making a profit.