Q295 :A group of friends decide to pool their
resources together and start an investment project in a few years time.
However, in the meantime some of them put their savings in a deposit
account in a bank, earning interest. The others are worried about that
and decided not to earn interest. The agreement is for all of them to
put equal amount at the time of starting the project. This means that
the second group will put in only what they have earned from their
work, while the others will put a portion of interest money in the
capital. Is this permissible?
A295 : Suppose a Muslim who has earned all his
money from legitimate means wants to start a partnership with a
Christian friend, and the two establish a netpany in which both have
equal portions of the capital, can there be any objection to such a
partnership? The Christian partner may have earned much or all of his
money from sources which may at least be described as “suspicious” from
the Islamic point of view. He might have been engaged in a trade which
involved the selling of intoxicants or pig meat, etc. Still the
partnership with a Muslim is in no way objectionable. That is because
the money itself is not contaminated by the way it is earned. It is the
action which may be legitimate or forbidden. When this Muslim and his
Christian friend enter into their partnership, they should agree
clearly that they will have no recourse to any activity which Islam
does not approve. As such, all the earning from that partnership would
be legitimate for the Muslim as his share of profit. He will not be
questioned by Allah about the original source of the money put in by
his Christian friend. He will be asked only about the joint activities
from the beginning of his partnership. The same applies to this group
of friends. When they have pooled their resources together, that
signals the starting point. Those of them who had not earned any
interest money bring in only legitimately earned money. The others have
a portion of their contributions doubtful, or illegitimate, but that is
counted against them prior to the partnership. Their friends who did
not share in this particular activity will not be questioned about it.
If the partnership, when it is formed, abides by the Islamic teachings,
then there is nothing wrong with whatever is earned through the whole
activity.
Our Dialogue ( Source : Arab News – Jeddah )