Selling cars on installment and the bank offers a service of deducting from their salaries in exchange for a sum of money
Machine translationRead the Arabic original
Q1: We have a commercial project which is the sale and purchase of cars on installment. The National Commercial Bank has offered us a service, which is to deduct the value of the installments from the buyer's salary in exchange for a sum of (1000 riyals), only one thousand riyals, no more, as a commission from us on each car. The bank also takes from the buyer at the time of signing the bills of exchange a sum of (25 riyals), only twenty-five riyals, no more, on each bill of exchange. Is this work permissible in the Shari'ah? Please give us a ruling, may Allah reward you.
A1: There is nothing wrong with what the bank or any other creditor takes from the debtor in exchange for its work in collecting the debt from the debtor.
A1: There is nothing wrong with what the bank or any other creditor takes from the debtor in exchange for its work in collecting the debt from the debtor.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.