The Ruling on Installment Sales with an Increase in the Price
Machine translationRead the Arabic original
Question:
This questioner, the mother of Ibrahim from Kuwait, says: I would like to ask, if I want to buy a car from a company on installment, knowing that this company takes eight dinars in interest for every one hundred dinars, and this interest increases according to the number of years, is there anything forbidden in that?
The Shaykh: Repeat.
The presenter: The questioner says: If I want to buy a car from a car company on installment, knowing that this company takes eight dinars in interest for every one hundred dinars, and this interest increases according to the number of years, is there anything forbidden in that?
Answer:
There is nothing wrong if a person buys a car, a house, or something else on specific installments with a known profit; there is no harm. It must be with clear knowledge of known installments until known terms, and then he sells it for his needs or enjoys it; there is no harm.
The point is, if it is stipulated as a specific profit in known installments, there is no harm.
The presenter: May Allah reward you with good.
This questioner, the mother of Ibrahim from Kuwait, says: I would like to ask, if I want to buy a car from a company on installment, knowing that this company takes eight dinars in interest for every one hundred dinars, and this interest increases according to the number of years, is there anything forbidden in that?
The Shaykh: Repeat.
The presenter: The questioner says: If I want to buy a car from a car company on installment, knowing that this company takes eight dinars in interest for every one hundred dinars, and this interest increases according to the number of years, is there anything forbidden in that?
Answer:
There is nothing wrong if a person buys a car, a house, or something else on specific installments with a known profit; there is no harm. It must be with clear knowledge of known installments until known terms, and then he sells it for his needs or enjoys it; there is no harm.
The point is, if it is stipulated as a specific profit in known installments, there is no harm.
The presenter: May Allah reward you with good.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.