Is a deferred sale permissible?

Question:
What is meant by a deferred sale, Honorable Shaykh? And what is your opinion on such sales?

Answer:
A deferred sale is permissible. It means postponing payment; one sells for a price due immediately or for a price due later. Both matters are established by the Sunnah. So selling on credit is permissible, except when it involves items subject to riba (usury or interest). In that case, postponement is not permissible, because it becomes riba al-nasi'ah (usury of deferment). For items subject to riba, if one is sold for another of the same type, equality in amount is required, and exchange of possession must take place in the meeting.
If the types differ, then differing in amount is permissible, but postponement is forbidden. The Messenger (peace and blessings be upon him) said: "When these types, which were specified and in which riba exists, differ, sell as you wish, provided it is hand to hand." Yes.