Discussion regarding the purchase of a car through an Islamic bank.
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The questioner : Regarding this same issue, this murabahah (cost-plus sale) falls under the category of a sale that violates the Shari'ah, based on the hadith of the Prophet (peace and blessings be upon him): Sunan Ibn Majah 2187Hasan (Darussalam) The Islamic bank sells the goods to the applicant for purchase before it has taken possession of them. The Islamic bank, from the outset, does not possess them; it signs the contract and signs the bills of exchange and signs everything. After that, the Islamic bank goes to purchase it for this person after he has signed initially. Here, it falls under the scope of the hadith of the Prophet (peace and blessings be upon him) Sunan Ibn Majah 2187Hasan (Darussalam) So, does the Islamic bank, from the outset, sell something it does not possess?
The Shaykh : What I used to know, which I mentioned earlier, is that the bank refers him to the company and tells him, for example, "Go and look at the car you want." So he buys it from the company.
The questioner : Who buys it?
The Shaykh : The person in need, the owner of the car. Please wait a moment, I am going to tell you what I used to understand. I do not want, may Allah forbid, to buy a car. I go to the company, I choose the type I want, and I agree with the agent and I agree with the bank. The bank tells me, "You go now and take the car from the company, and we will pay you the price, and it will be added to what they call murabahah (cost-plus sale)." This is the picture I used to understand before. Please be patient, now we are asking the person with knowledge. Is what the brother mentioned the reality?
The questioner : Definitely. They sign the contracts and the bills of exchange, and then he goes and brings a quotation from the party from whom he wants to buy. For example, this recorder, he wants to buy this recorder from Sanyo company. He comes with a quotation for the recorder in the name of the Islamic bank. The bank agrees to buy it. When they sign the contracts and the bills of exchange, an employee from the bank goes to receive the device and delivers it to the one who ordered the purchase.
The Shaykh : Look, now the bank has agreed to the purchase.
Another questioner : Just, may Allah have mercy on you, the bank now, we go to the administration together. We tell the administration, "We want to buy a car." They say, "Did you find the car?" We say, "We found the car." The bank holds me and makes me sign the contract and the bills of exchange before he goes out with me. The bank obliges me to the purchase.
Another questioner : Just, these are wrong practices on the part of the employees, excuse me. I am telling you the reality. I am one of the founders of the bank, and it has been eleven years for me. The practical reality is that the employee is supposed to inspect the car and take a quotation from its owner regarding the price and the type of car.
Another questioner : Good. They make him sign the bills of exchange first. The Islamic bank's transaction is exactly that: it makes him sign the bills of exchange first, then the bank buys it and registers it in the bank's name. After it registers it in the bank's name, it registers it in your name. Initially, the bank must have signed it.
The questioner : It means that an agreement was reached with the original owner of the car, and there was an offer and acceptance from both sides.
Another questioner : Oh my professor, I want to buy a car fromThe Shaykh : What do you do? First in the transaction, you make me sign a bill of exchange?
The questioner : No, the first thing I take is a quotation fromThe Shaykh .
Another questioner : Leave that alone, that does not advance or delay the contract. Now, may Allah have mercy on you, I will bring you this quotation. What do you do?
The questioner : I am supposed to inspect the car, that is what the instructions say.
Another questioner : You inspected it and did it. On what do you make me sign? So, is the car in your possession?
The questioner : Of course, I agreed with him. I agreed with him on the purchase.
The Shaykh : Please be patient. Before everything, does the bank agree with the buyer that it sold him the car?
The questioner : Yes, the first thing is that he brings the offer from the seller. If the offer is pleasing to the bank...
The Shaykh : We hear from here.
Do not sell what is not with you.
لا تبع ما ليس عندكDo not sell what is not with you.
لا تبع ما ليس عندكThe Shaykh : What I used to know, which I mentioned earlier, is that the bank refers him to the company and tells him, for example, "Go and look at the car you want." So he buys it from the company.
The questioner : Who buys it?
The Shaykh : The person in need, the owner of the car. Please wait a moment, I am going to tell you what I used to understand. I do not want, may Allah forbid, to buy a car. I go to the company, I choose the type I want, and I agree with the agent and I agree with the bank. The bank tells me, "You go now and take the car from the company, and we will pay you the price, and it will be added to what they call murabahah (cost-plus sale)." This is the picture I used to understand before. Please be patient, now we are asking the person with knowledge. Is what the brother mentioned the reality?
The questioner : Definitely. They sign the contracts and the bills of exchange, and then he goes and brings a quotation from the party from whom he wants to buy. For example, this recorder, he wants to buy this recorder from Sanyo company. He comes with a quotation for the recorder in the name of the Islamic bank. The bank agrees to buy it. When they sign the contracts and the bills of exchange, an employee from the bank goes to receive the device and delivers it to the one who ordered the purchase.
The Shaykh : Look, now the bank has agreed to the purchase.
Another questioner : Just, may Allah have mercy on you, the bank now, we go to the administration together. We tell the administration, "We want to buy a car." They say, "Did you find the car?" We say, "We found the car." The bank holds me and makes me sign the contract and the bills of exchange before he goes out with me. The bank obliges me to the purchase.
Another questioner : Just, these are wrong practices on the part of the employees, excuse me. I am telling you the reality. I am one of the founders of the bank, and it has been eleven years for me. The practical reality is that the employee is supposed to inspect the car and take a quotation from its owner regarding the price and the type of car.
Another questioner : Good. They make him sign the bills of exchange first. The Islamic bank's transaction is exactly that: it makes him sign the bills of exchange first, then the bank buys it and registers it in the bank's name. After it registers it in the bank's name, it registers it in your name. Initially, the bank must have signed it.
The questioner : It means that an agreement was reached with the original owner of the car, and there was an offer and acceptance from both sides.
Another questioner : Oh my professor, I want to buy a car fromThe Shaykh : What do you do? First in the transaction, you make me sign a bill of exchange?
The questioner : No, the first thing I take is a quotation fromThe Shaykh .
Another questioner : Leave that alone, that does not advance or delay the contract. Now, may Allah have mercy on you, I will bring you this quotation. What do you do?
The questioner : I am supposed to inspect the car, that is what the instructions say.
Another questioner : You inspected it and did it. On what do you make me sign? So, is the car in your possession?
The questioner : Of course, I agreed with him. I agreed with him on the purchase.
The Shaykh : Please be patient. Before everything, does the bank agree with the buyer that it sold him the car?
The questioner : Yes, the first thing is that he brings the offer from the seller. If the offer is pleasing to the bank...
The Shaykh : We hear from here.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.