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Islamic view on interest
I have deposited an amount for a business and the owner is giving a fixed amount every month. At the time of withdrawal he will pay the money back after calculating profit or loss. According to him he is buying a product in large quantity by full caspayment basis instead of paying by instalments. By this way he is getting 3-4%
Profit. This 3-4% he is giving to the investors means what we are getting everymonth. This process continues. I want to know this will come under interest in islamic view? |
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