If a person buys an item from a shop, and some money remains with the seller, and he returns after a period to take it; does this fall under riba al-nasi'ah (usury of deferment)?
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The questioner : Okay, Shaykh, regarding the definition of riba al-nasi'ah (usury of deferment), and I mean: if a man buys from the shop, and the seller says he has some money left and tells him to come back... does it fall under...?
The Shaykh : No, this is not riba al-nasi'ah (usury of deferment). Riba al-nasi'ah (usury of deferment) is anything where the repayment is delayed, and the more it is delayed, the more the usury increases. For example, the usurers used to write, for instance, for one month, and the usury on a thousand was five. If it became two months, the usury on a thousand was ten, and so on. This exists today. This is riba al-nasi'ah (usury of deferment); meaning, the more it is delayed, the more the usury increases. This is prohibited by the explicit text of the Qur'an:.
Another questioner : I mean, Shaykh, if it is delayed and...
The Shaykh : There is nothing preventing it.
The Shaykh : No, this is not riba al-nasi'ah (usury of deferment). Riba al-nasi'ah (usury of deferment) is anything where the repayment is delayed, and the more it is delayed, the more the usury increases. For example, the usurers used to write, for instance, for one month, and the usury on a thousand was five. If it became two months, the usury on a thousand was ten, and so on. This exists today. This is riba al-nasi'ah (usury of deferment); meaning, the more it is delayed, the more the usury increases. This is prohibited by the explicit text of the Qur'an:
Do not consume usury in increased multiples.
لا تأكلوا الربا أضعافا مضاعفةAnother questioner : I mean, Shaykh, if it is delayed and...
The Shaykh : There is nothing preventing it.
Source
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