Ruling on selling on credit with an increase in the price
Machine translationRead the Arabic original
Question:
Regarding a person who buys a commodity for a price that is one and a half times its value, on credit for a specified period of six months or more, please inform us: is this lawful or forbidden?
Answer:
There is no harm if he buys the commodity for more than its price on credit, or for multiple installments; there is no harm in that. This is because a debt must necessarily involve an increase; it is not like cash. So if he buys a commodity worth one hundred, he may buy it for one hundred and fifty on credit, or for two hundred on credit; there is nothing wrong with that, and there is no harm in it. This is based on His saying (Exalted and Majestic is He): [al-Baqarah: 282]. So there is no harm in that, because the need is in...; he only delays payment to him for the sake of the increase. Yes.
The presenter: May Allah reward you with good, and may He do you good.
Regarding a person who buys a commodity for a price that is one and a half times its value, on credit for a specified period of six months or more, please inform us: is this lawful or forbidden?
Answer:
There is no harm if he buys the commodity for more than its price on credit, or for multiple installments; there is no harm in that. This is because a debt must necessarily involve an increase; it is not like cash. So if he buys a commodity worth one hundred, he may buy it for one hundred and fifty on credit, or for two hundred on credit; there is nothing wrong with that, and there is no harm in it. This is based on His saying (Exalted and Majestic is He):
O you who have believed, when you contract a debt for a specified term, write it down.
يَا أَيُّهَا الَّذِينَ آمَنُوا إِذَا تَدَايَنتُمْ بِدَيْنٍ إِلَى أَجَلٍ مُسَمًّى فَاكْتُبُوهُThe presenter: May Allah reward you with good, and may He do you good.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.