The Permissible Forward Sale
Machine translationRead the Arabic original
Fatwa No. ( 16643 )
Q: A man took from me a sum of 22,000 riyals in exchange for delivering a car to me one year after he took the money. The agreement was that it be a Datsun, model 93, with one engine, in plain white color. Eight months have passed since the deadline and he has not delivered the car to me, although it is available in the showrooms. He claims that the sale involves riba (usury or interest). I ask for clarification of the ruling on this sale.
A: If the facts are as stated in the question, there is nothing wrong with the sale mentioned; because it is a permissible forward sale (salam). It is obligatory for the debtor to deliver the car at the time specified in the contract with the specifications mentioned. If there is a dispute between you regarding this, the reference for that is the court. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his companions.
Q: A man took from me a sum of 22,000 riyals in exchange for delivering a car to me one year after he took the money. The agreement was that it be a Datsun, model 93, with one engine, in plain white color. Eight months have passed since the deadline and he has not delivered the car to me, although it is available in the showrooms. He claims that the sale involves riba (usury or interest). I ask for clarification of the ruling on this sale.
A: If the facts are as stated in the question, there is nothing wrong with the sale mentioned; because it is a permissible forward sale (salam). It is obligatory for the debtor to deliver the car at the time specified in the contract with the specifications mentioned. If there is a dispute between you regarding this, the reference for that is the court. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.