Riba and installment sale : [1]

السؤال

Assalamu Alaikum, Dear Sir, I’m Hijaz, undergraduate, B.Sc. Accountancy, from Sri Lanka. One of my friend bought a mobile phone in installment system. Cash price of mobile Rs 19575 Monthly installment Rs 1875 (1875 * 12 = 22500) Additional charge Rs 2925 (22500-19575) Period 12 months % Applicable 30 % per annum (2.221 % per month cumulative) (calculated by me) Where Sri Lankan inflation stands This is sold to credit card holders, monthly installment charged to the card and it is said 0 % interest scheme. I strongly believe that installment system is based on interest and it’s not allowed in Islamic Shari’ah law, but now a days I’m having conflict with my friends that they say this is acceptable and the justify it based on time value of money concept. So please suggest me a fatwa on this issue with Quran and Hadith supporting. Thank You, Allah may bless you.

جواب الفتوى

أنقر هنالمشاهدة هذا المحتوى

تاريخ النشر

2008-03-23

التخصصات الرئيسية

العلوم المالية و المحاسبية
الأديان
الدراسات الإسلامية

الموضوعات

• الفقه الإسلامي
• الأسعار
• الأموال
• الربا
• بطاقات الائتمان
• البيع بالتقسيط

عدد الصفحات

2

نوع البيانات

فتاوى

لغة النص

الإنجليزية

رقم السجل

BIM-730461

• APA
• MLA
• AMA