The Issue of Installment and Cash Payments

The Shaykh : You are currently dealing with companies, and you are forced to deal with some small merchants, let alone the large ones. All merchants today deal in two types of sales, which in your language are called "cash" or "installment," meaning cash and credit. The cash price is lower than the installment price; the installment price is higher than the cash price. Many scholars, both past and present, adopt the permissibility of this sale with a price difference between the installment sale and the cash sale. However, we call upon the scholars of the Muslims, before anyone else, such as students of knowledge or the general Muslim public, we call upon them by the call of Allah (Mighty and Majestic) in the verse which I believe was mentioned at the beginning of this session: If we return to the hadiths of the Prophet (peace and blessings be upon him) regarding the chapters of sales, we will find hadiths that prohibit installment sales, that is, sales with a deferred term at a price increase over the cash sale. Despite this, these hadiths are today almost forgotten by some scholars. So we are now reminding our brothers present of the hadiths that will follow on this issue, so that we can build upon them the answer to what is the ruling on dealing with the Islamic bank.