Is profit considered permissible for an employee who works at one company and owns a share in another, if his first company invites his second company to submit bids, and the second company offers the best price without any manipulation, knowing that the employee does not have the authority to approve bids?
If you are asked to obtain price quotations, you must choose the most suitable companies, and it is impermissible to include the company in which you are a partner if there is a more qualified one; because you are a trustworthy agent. Otherwise, it would be considered deception and betrayal.
However, if the aforementioned is observed, it is permissible to include it under the following conditions: 1. Not disclosing any information about prices to your private company. 2. Not disclosing any information about the offers of other companies. 3. That evaluating offers and selecting the best one is not part of your job responsibilities. 4. That supervising the execution of works or receiving them is not part of your job responsibilities, unless you inform the company that you are a partner in the executing company.
If these conditions are met, then it is permissible to invite it to submit a price quotation.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Original fatwa ID
- 19856
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- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy