"Is it permissible for me to market this real estate offer that involves operating funds with fixed interest and percentages for clients and brokers, or is that forbidden? "
"Praise be to Allah and prayers and peace be upon the Messenger of Allah and upon his family and companions, to proceed:
This contract resembles a Mudaraba contract where a person gives his money to another for trade in exchange for a percentage of the profit. The money owners are the clients and the Mudarib is the operating entity, and the profit is divided between them.
Contract Conditions: - It is permissible to specify the program duration with the consent of both parties. - It is permissible to request a bank approval and certificate to ensure the availability of capital. - It is permissible to set a minimum amount. - Brokerage is allowed with a specified commission from the operating amount.
Basic Conditions of the Contract: 1. Investing money in permissible ventures. 2. No guarantee of capital. 3. The operational percentage is calculated from the profit, not from the capital."
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/138238
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- Ftawy
- Original fatwa ID
- 138238
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy