Selling a debt to someone other than the debtor for less than its value
Machine translationRead the Arabic original
Q6: A questioner says that a person is demanding a sum of (34,000) from me in installments. I brought (24,000) in cash on the condition that he would reduce the amount by (10,000), but the owner of the debt refused. Then my brother took the amount of (24,000) on the condition that the previous debt owner would accept it in installments, and I would have finished my debt. What is the ruling on that?
A6: The transaction that took place between you and your brother is forbidden and invalid. It is selling a debt to someone other than the one who owes it. You sold deferred riyals for immediate riyals that are less than them, and that is not permissible. It is a type of forbidden riba.
A6: The transaction that took place between you and your brother is forbidden and invalid. It is selling a debt to someone other than the one who owes it. You sold deferred riyals for immediate riyals that are less than them, and that is not permissible. It is a type of forbidden riba.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.