Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)

One of our brothers/sisters has asked this question:

Asslam alekum Brother,

I am asking this question on behalf of my friend.

My friend has given his house on heavy deposit (2.5 Lac Rupees) and shifted to another location. My friend is not taking any rent from the tenant and after 11 months when the room is vacated my friend will give back the deposit money to the tenant.

My friend is planning to invest the heavy deposit in business from which he will get profit and this will help him pay the rent of the house where he is currently staying

Please advise if heavy deposit is counted as Interest and can he invest the money which he has taken as deposit from the tenant.

Please treat this question as URGENT

Jazak Allah

Mutallib Sheikh 

(There may be some grammatical and spelling errors in the above statement. The forum does not change anything from questions, comments and statements received from our readers for circulation in confidentiality.)

Answer:

Take deposit and invest

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

If your friend has taken a deposit for letting his house to a tenant, and wishes to invest that deposit and utilize its profit before returning the same amount of deposit back to the tenant when he returns the house….the transaction, in its essence, does not constitute any ‘riba’ and would thus be considered lawful in the Sight of Shariah.

Whatever written of Truth and benefit is only due to Allah’s Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

Your brother and well wisher in Islam,

Burhan