A bank buying a commodity it does not own and selling it on deferred payment
Machine translationRead the Arabic original
Question:
Honorable Shaykh, may Allah grant you success. A questioner says: If a bank buys a commodity for me after I have selected it from one of the exhibitions, and the bank does not own it—this bank does not own the commodity—then sells it to me for a high deferred price, is that permissible?
Answer:
It is not permissible. You and the bank conclude the contract before the bank owns the commodity. If the commodity is in its possession, you conclude the sale; otherwise, no.
Honorable Shaykh, may Allah grant you success. A questioner says: If a bank buys a commodity for me after I have selected it from one of the exhibitions, and the bank does not own it—this bank does not own the commodity—then sells it to me for a high deferred price, is that permissible?
Answer:
It is not permissible. You and the bank conclude the contract before the bank owns the commodity. If the commodity is in its possession, you conclude the sale; otherwise, no.
Source
شرح إغاثة اللهفان من مصائد الشيطان لابن القيم، فصل وقد أخبر - صلى لله عليه وسلم - أن طائفة من أمته تستحل الربا باسم البيع — islamhouse.com (53:38)
The Arabic text is a machine transcription of the audio recording.