The Ruling on Buying on Installment from Banks
Machine translationRead the Arabic original
Question:
Your Eminence, may Allah preserve you, is it permissible for me to purchase furniture on installment from Al-Rajhi Bank? Because some people say that purchasing on installment is forbidden because it involves riba. Please advise us?
Answer:
There is nothing wrong with buying on installment, whether it is a car, furniture, clothing, a house, or land. There is nothing wrong with it if the seller owns it, if it is in the seller’s possession and belongs to him, if he has it in his house, in his ownership, in his courtyard, if he has it, has taken possession of it, and sells it on installment; there is nothing wrong with it.
Your Eminence, may Allah preserve you, is it permissible for me to purchase furniture on installment from Al-Rajhi Bank? Because some people say that purchasing on installment is forbidden because it involves riba. Please advise us?
Answer:
There is nothing wrong with buying on installment, whether it is a car, furniture, clothing, a house, or land. There is nothing wrong with it if the seller owns it, if it is in the seller’s possession and belongs to him, if he has it in his house, in his ownership, in his courtyard, if he has it, has taken possession of it, and sells it on installment; there is nothing wrong with it.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.