I have investment in an online property firm which lists assets on its platform for fractional purchase. For each asset listed on the Platform, a Special Purpose Vehicle (SPV) is created in which funds are raised to purchase, own and manage the property.
An investor’s contribution shall be towards subscription of the shares and compulsorily convertible debentures of the SPV that holds the property and represents one’s fractional investment.
The property firm will provide asset management services to the SPV and undertake accounting, secretarial, reporting, leasing, maintenance, and other operational aspects under the asset management services contract with the SPV.
I receive a monthly amount with the following breakup as attached:
The interest on security deposit is definitely haram but is the remainder of the investment also considered haram?