The honorable Shaykh, there is a transaction, for example, a car or a house whose price is four hundred thousand, and the merchant sells it to a buyer for five hundred thousand on the condition that payment is made
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The questioner : There is a transaction, for example, a car or a house whose price is four hundred thousand, and the merchant sells it to the buyer for five hundred thousand on the condition that payment is made after a year or more. Is this considered riba? Please answer us, may Allah reward you?
The Shaykh : If a person sells a commodity, such as a car or something else, worth four hundred thousand, but sells it for a deferred payment of five hundred thousand, then there is nothing wrong with it and no harm in it, and it is not riba in any way. This is because he sold a specific item for dirhams, and selling a specific item for dirhams does not involve riba. Riba only occurs between currencies, one with another. As for this, it causes no harm. Yes.
The questioner : He says.
The Shaykh : If a person sells a commodity, such as a car or something else, worth four hundred thousand, but sells it for a deferred payment of five hundred thousand, then there is nothing wrong with it and no harm in it, and it is not riba in any way. This is because he sold a specific item for dirhams, and selling a specific item for dirhams does not involve riba. Riba only occurs between currencies, one with another. As for this, it causes no harm. Yes.
The questioner : He says.