The Ruling on Selling on Credit and the Zakah of Debts
Machine translationRead the Arabic original
Question:
He says: In our country, many shops sell clothes and food, but on credit. What is the ruling on that? And is there zakah due on this debt?
Answer:
It is permissible to buy clothes, food, and livestock on credit, as the Prophet (peace and blessings be upon him) bought barley as food for his family for a deferred price and pledged his armor (peace and blessings be upon him). It is permissible to sell with a deferred payment. It is permissible to sell with a deferred payment in everything that Allah has made permissible to sell. It is permissible to sell for immediate payment and it is permissible to sell for deferred payment; there is no objection to that.[Al-Baqarah 2:275] The default ruling for sale is that it is lawful, unless it is a sale that includes something of the forbidden, in which case it is not permissible. Yes.
He says: In our country, many shops sell clothes and food, but on credit. What is the ruling on that? And is there zakah due on this debt?
Answer:
It is permissible to buy clothes, food, and livestock on credit, as the Prophet (peace and blessings be upon him) bought barley as food for his family for a deferred price and pledged his armor (peace and blessings be upon him). It is permissible to sell with a deferred payment. It is permissible to sell with a deferred payment in everything that Allah has made permissible to sell. It is permissible to sell for immediate payment and it is permissible to sell for deferred payment; there is no objection to that.
But Allah has permitted trade
وَأَحَلَّ اللَّهُ الْبَيْعَ
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم بيع السلع بالدين؟ وهل على هذا الدين زكاة؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.