Khums: Khums Ruling on Profits from Silent Partnership Deposits for Hajj Registration

Practical Laws of Islam as per the teachings of Imam Khamenei

Khums: Khums Ruling on Profits from Silent Partnership Deposits for Hajj Registration

English:

Question #968:

Recently due to an agreement between Haj Organisation and the Bank Melli of Iran, those who want to register their names to go to haj deposit one million tumans as silent partnership in the bank. According to this contract at the end of each year the bank adds 17 per cent to the amount as profit for silent partnership. The Haj Organisation only sends those who deposit this amount as mentioned and after about three years sends them to haj. Before being sent to haj, the person gets his money plus the profits and deposits it in the account of Haj Organisation. As it is a written contract and nothing is said as the details of the contract orally, what is the rule on the profits?

Answer #968:

Banking transactions through written contract as mentioned above is no problem and the profit gained from silent partnership contract is ḥalāl. The depositor should pay khums on the principal if it was salary/profit of business on which he has not paid khums. The profits paid by the bank is considered as the revenue of the year of the receipt and is not subject to khums if it was not receivable before the year of going to haj and it is going to be spent on haj expenses during the very year of receipt.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Khums