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Question: Please I'd like to give a detailed description. There's a company that sells gold to people online. They have registered traders who sell the gold. I have to register first as a merchant I'll then request for the number of gold from a trader since it's online I'll have to transfer the money to his account and once he sees it he sends me the gold. The gold isn't physical at this point it's virtual and it only shows on my dashboard that I have so and so grams of gold saved. Now I can then choose to request for the physical gold where I'll pay shipping fees for it to be delivered. They say the gold is stored in a secured vault. Is this transaction halal? Is it in one sitting? I also have an option of investing the gold into the company instead of collecting it physically since it has been transferred to my savings wallet online. All I have to do is transfer it to my investment wallet and it will start generating 1.5 percent of the gold I invested daily so that by the end of the month I'll have made 45 percent of my investment. According to them traders use the invested gold for daily transactions and that's where the income is generated. The earning I make isn't cash but gold once it matures to 1.0 gram of gold ill then sellbit to a trader after he transfers money to my account and he receives the virtual gold in his wallet. Then the earning goes back to zero and starts to mature again in 10days I'll be able to sell another 1gram of my earnings(gold) from the last time I sold. This continues until I withdraw my capital from the company.my capital won't be affected and is withdrawable because it is gold all I have to do is sell it at the official price to a trader and get back my initial investment on the condition that I must leave a gram of gold behind. This is to keep the account active in case I want to return. Is this earning halal? Thirdly for everyone I refer to join the platform I'll get a one time 10percent bonus of their investment but if they invite others or increase their investment I won't benefit from that again. Is this platform halal? If not how do I repent from the profit I made before?
Answer:

I do not answer questions related to Islamic finance; on such issues, I would refer you to contact Dr. Monzer Kahf. Here is the link to his website: http://monzer.kahf.com/

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