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Utilising Trusts and Investing Them

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Details: Category: Sheikh Bin Baz; Published on Thursday, 07 November 2013 10:24; Hits: 1077

Utilising Trusts and Investing Them

Question:

A peron entrusted a sum of money to me and I used this money to invest, then when the owner of the money came to me, I returned his money to him in full, but I did not inform him of how I had benefitted from his money. Was my use of it permissible or not?
Answer:

If someone entrusted a some of money to you, then you are not allowed to use it except with his permission and it is incumbant upon you to take care of it, just as you would take care of anything else. But if you used it without his permission, you must ask his permission, and if he agreed (then well and good), but if he did not, then give him the profit on his money, or come to an agreement with him that you will pay him half or so, because it is permissible for the Mulims to make settlements between them, unless it is a settlement which forbids what is permissible or permits what is forbidden.
Shaykh `Abdul-`Azeez Bin Baz
Fatawa Islamiyah, volume 5 / page 22-23