The Ruling on Increasing the Price in Deferred and Installment Sales
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Question: What is the ruling on increasing the price in deferred and installment sales?
Answer: A sale with a known deferred term is permissible if the sale includes the valid conditions, and likewise installment payments in the price; there is no harm in them if the installments are known and the terms are clear. This is based on the saying of Allah, the Exalted: [al-Baqarah: 282], and the saying of the Prophet (peace and blessings be upon him): Mishkat al-Masabih 2883, and the story of Barirah, which is established in the two Sahihs. She bought her freedom from her masters for nine ounces of gold, paying one ounce each year. This is an installment sale, and the Prophet (peace and blessings be upon him) did not disapprove of it; rather, he approved it and did not forbid it.
There is no difference in this between the price being equal to the cash price of the goods or being higher than that due to the deferral. And success is from Allah.
Answer: A sale with a known deferred term is permissible if the sale includes the valid conditions, and likewise installment payments in the price; there is no harm in them if the installments are known and the terms are clear. This is based on the saying of Allah, the Exalted:
O you who have believed, when you contract a debt for a specified term, write it down.
يَا أَيُّهَا الَّذِينَ آمَنُواْ إِذَا تَدَايَنتُم بِدَيْنٍ إِلَى أَجَلٍ مُّسَمًّى فَاكْتُبُوهُThose who pay in advance for anything must do so for a specified measure and weight with a specified time fixed.
من أسلف في شيء، فليسلف في كيل معلوم ووزن معلوم، إلى أجل معلومThere is no difference in this between the price being equal to the cash price of the goods or being higher than that due to the deferral. And success is from Allah.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.