Kindly i wanna know if you already know what Qnet the network marketing industry looks like & if its legal or illegal
Kindly be informed that Egypt officially joined this company & approved it
Network marketing is a widespread form of marketing adopted by Qnet. It sells products and services based on a multi level marketing strategy which admits a binary compensation plan where newly recruited independent representatives are structured in the form of a binary tree.
After consulting economy experts and parties involved in this form of transaction, the fatwa council at Dar Al-Ifta` Al-Missiryah declared that this form of transaction is prohibited in Islamic law [Shari'ah] due to the following reasons:
- It negatively affects the economy.
- It destabilizes the market policy.
- Individuals involved in this transaction lack legal protection and the required financial supervision.
- The sold commodity is not sold for its sake.
This ruling pertains to the above mentioned form of transaction.