Is selling on installments permissible?
Question
Is it permissible to sell by installments when the price of the product is increased?
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
It is permissible to sell products on installments on condition the final price of the product is agreed upon at the time of sale. [1]
And Allah Ta’āla Knows Best
Abdul Hannan Nizami,
Student Darul Iftaa
Chicago, USA
Checked and Approved by,
Mufti Ebrahim Desai.
References (Arabic / Urdu sources)
[1] (Introduction to Islamic Finance, pg.102)
الْبَيْعُ مَعَ تَأْجِيلِ الثَّمَنِ وَتَقْسِيطِهِ صَحِيحٌ (درر الحكام في شرح مجلة الأحكام، ج1ص 227، دار الجيل)
- Answered by
- Abdul Hannan Nizami
- Checked & approved by
- Mufti Ebrahim Desai
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