1) My family is engaged in the Business of Fast Moving Consumer Goods (F.M.C.G) Distribution /Dealer & Co . We are getting margin of around 4% & above. Now the position of Business is worst and we have borrowed Rs.21,00,000/- from outsiders and in reply these outsiders need certain % of shares in profit or interest . So what can i do to avoid my business from Haram
2) The Company from which we are purchasing provide us 14 days Credit & we have to pay them at due date but when we fail the Company charges Interest so from our position as mentioned above we have borrowed too much.

In the name of Allah, the most Beneficent, the most Merciful.

Answer

Fast moving consumer goods (FMCG) is a type of good that is consumed everyday by the average consumer. The goods that comprise this category are one’s that need to be replaced frequently, compared to those that are usable for extended periods of time.

With regards to your first question the rs.21,00,000 you borrowed can be given from the profits you earned, but you should make sure that you do not pay anything extra than what you borrowed as this will constitute interest which is unlawful in Islam.

With regards to your second question it will be permissible to purchase items or goods on 14-day credit. However, care should be taken that you pay before the 14 days. If the 14 days elapse and you have to pay interest then you will be sinful for participating in interest transactions. It is similar to the fatwa given by Mufti Taqi Usmani (DB) on credit cards.

He has said, “Credit cards have become a necessity without which many transactions cannot be made; therefore it will be permissible to use them on the condition that the payments are made before the due date to avoid interest.”

Only Allah Knows Best

Mohammed Tosir Miah

Darul Ifta Birmingham.