Ruling on increasing the price when payment of the price is deferred
Machine translationRead the Arabic original
Question:
This questioner says: What is the ruling on purchasing any goods on credit for a specific period at a price higher than what is due in cash on the spot? Is there any sin or riba on the seller and the buyer?
Answer:
There is no harm in that. If he buys a commodity worth one hundred in cash, and buys it for one hundred and twenty to be paid in one month, two months, one year, or two years, there is nothing wrong with it. The point is: there is no harm in the increase being due to the deferral of payment.
The presenter : May Allah reward you with good, Your Eminence the Shaykh.
This questioner says: What is the ruling on purchasing any goods on credit for a specific period at a price higher than what is due in cash on the spot? Is there any sin or riba on the seller and the buyer?
Answer:
There is no harm in that. If he buys a commodity worth one hundred in cash, and buys it for one hundred and twenty to be paid in one month, two months, one year, or two years, there is nothing wrong with it. The point is: there is no harm in the increase being due to the deferral of payment.
The presenter : May Allah reward you with good, Your Eminence the Shaykh.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.