mortgage deposit Fatwa Cover

Another form of interest ... 5454779668

Monthly Al Kawthar•mortgage deposit•

Question

Muhtaram! As far as I know, it is common practice in our area, when giving a loan to someone, the agreement is made in such a way that the lender tells the borrower to buy 10 manas of paddy from you for five thousand rupees. Pay the price of paddy instead of paddy in the paddy season. In this case, they determine the amount of paddy in such a way that the value of that amount of paddy in the paddy season is more than the loan amount. Is it legal to make such an agreement? 3851141867

Answer

- حامداومصلياومسلما، بسم الله الرحمن الرحيم -

No, the agreement in question is not lawful. Rather it is just an excuse to take extra by providing loans. Even if it is taken in the name of the price of paddy, it is included in the interest contract. Because everyone understands that even if it is taken in the name of paddy, it is being taken as profit in loan money. Note that if one pays the price in advance and wants to take the paddy later (not the price of the paddy), then it can be in the manner of salam or advance sale according to the Shari'ah (بيع السلم). In that case it can be done by fulfilling all the conditions related to it. 6661245139

- والله اعلم باالصواب -

* This Fatwa was translated by Google Translate.
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Source

  • আহকামুল জাস্সাস, Part: 1, Page: 467
  • বাদায়েউস সানায়ে, Part: 6, Page: 518
  • আলমুগনী, Part: 6, Page: 436

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