Question
There are many companies in different countries of the world including Bangladesh who buy and sell places and houses. The condition for payment is that if you pay once, you have to pay less and if you pay in installments, you have to pay a little more. My question is, what is the interest on the extra money in installments? Is such buying and selling permissible? 2574494338
Answer
- حامداومصلياومسلما، بسم الله الرحمن الرحيم -
It is permissible to buy and sell in installments at a higher price than cash. However, in case of sale of installments, the following conditions should be observed-
- The price of the product and the date of receipt should be specified.
- After the price of the product is finalized at the time of the contract, the price cannot be increased again due to delay in collection of installments or increase in the price of the product.
- Products cannot be withheld for installment collection; Rather, the product must be explained to the buyer after the contract. 9661424528
- والله اعلم باالصواب -
* This Fatwa was translated by Google Translate.
To see the original click here
Source
- মাজাল্লাতু মাজমাইল ফিকহিল ইসলামী জিদ্দা, Part: 7, Page: 2
- বাইউত তাকসীত ওয়া আহকামুহু, সুলাইমান আততুরকী, Page: 228
- বুহুস ফী কাযায়া ফিকহিয়্যাহ মুআছিরা, আল্লামা তাকী উসমানী, Part: 1, Page: 7
Related Fatwas
- Perform prayers with the installment hat on the head 4152354258
- What is to be deducted from long-term debt as zakat 5981615146
- Advance money purchase-sale 8724715311
- What to do if you do not promise to give land for the mosque 4824639554
- What to do if the spot number is proved wrong after purchasing the land 5893257194
- How much is the right of the representative in the discount of purchase and sale? 1112714487
- What is the order of purchase and sale on the condition of purchasing the product and leaving it with the buyer? 2257531768
- Construction of orphanage with expiation money 2244943273