Question

I am Mohd Javed chairman of a Credit Co-operative society in Uttarakhand India... We take deposit from our members and invest it in business and give profit to the members...

My question is that can we give fixed profit to our non Muslim members..because they don't deal in sharia banking...

Answer 1

Ref. No. 2524/45-3853

In the name of Allah the most Gracious the most Merciful

The answer to your question is as follows:

You are a Muslim and bound by Shariah, it is not permissible for you and all Muslim participants to take fixed profit, similarly it is not permissible to give fixed profit to a person be it a Muslim or non-Muslim; since, both taking and giving interest are forbidden for a Muslim, therefore a Muslim cannot give a fixed interest to even a non-Muslim.

And Allah knows best

Darul Ifta

Darul Uloom Waqf Deoband