Sale of deferred payment for deferred payment
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Fatwa No. ( 18535 )
Q: What is the meaning of the sale of deferred payment for deferred payment ? And does it include selling a commodity that you bought on credit, then selling it on credit before you pay its price?
A: The meaning of the sale of deferred payment for deferred payment is: selling a deferred debt for a deferred debt, i.e., selling a debt for a debt. It is not permissible, and it has forms, among which are: 1- Selling what is owed in the form of immediate goods or currency for a deferred price to the person who owes it or to someone else.
2- Making the capital of a forward sale a debt, such as paying one hundred dirhams for a sa' of food or its equivalent, deferred for a year. When the term expires, the one who owes the right says to the payer: I do not have what I can give you, but sell me this food for two hundred dirhams, deferred for a month or the like. As for the issue of selling a received commodity that you bought on credit, then selling it on credit before you pay its price, it is permissible and does not fall under the issue of the sale of deferred payment for deferred payment; because it is the sale of the commodity that you received and which has settled in your ownership through the purchase.
Q: What is the meaning of the sale of deferred payment for deferred payment ? And does it include selling a commodity that you bought on credit, then selling it on credit before you pay its price?
A: The meaning of the sale of deferred payment for deferred payment is: selling a deferred debt for a deferred debt, i.e., selling a debt for a debt. It is not permissible, and it has forms, among which are: 1- Selling what is owed in the form of immediate goods or currency for a deferred price to the person who owes it or to someone else.
2- Making the capital of a forward sale a debt, such as paying one hundred dirhams for a sa' of food or its equivalent, deferred for a year. When the term expires, the one who owes the right says to the payer: I do not have what I can give you, but sell me this food for two hundred dirhams, deferred for a month or the like. As for the issue of selling a received commodity that you bought on credit, then selling it on credit before you pay its price, it is permissible and does not fall under the issue of the sale of deferred payment for deferred payment; because it is the sale of the commodity that you received and which has settled in your ownership through the purchase.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.