Entering a partnership by paying clearing fees of a container at the port

Q. A friend of mine has asked me to partner with him for 2 Months by paying the clearing fees of a container stopped at the port. In return, he will give me a 7% profit of the clearing fees after he sells the goods. Is this permissible?

A. In the enquired case, if you simply contribute towards clearing fees of the container with a 7% return on the contribution only and not on the goods, then this results in an interest bearing transaction which is impermissible.

A permissible alternative is to enter into a partnership by contributing/purchasing a share of the goods in the container from your friend with a mutually agreed upon profit share.

In doing so, it will help cover the clearing fees of the container at the port and at the same time, yield a profit share for both of you.

Allah Ta’ala Knows Best

Mufti Ismaeel Bassa

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