Massallah pertaining to a business transaction

Question ID: 37840

assala mu alaikum
i need to purchase a commodity for my business but do not have the funds
a muslim person has the funds but wants a profit on the transaction
the commodity cost R6800.00 a ton i am willing to pay him R200.00 a ton
R6800.00 X 70 = R 476 000.00
200.00 x 70 = 14 000.00
how can we structure this transaction islamically i would pay him R490 000.00
in instalments over four months

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Asked on June 6, 2010 12:00 am
Private answer

Make him share holder of the deal. You can pay in installments.

Marked as spam
Answered on June 6, 2010 12:00 am