Conditions in home financing contracts : late fees and penalties
Fatawa Question
In a buy-in-installments / lease agreement, would a late fee, or a breach of contract penalty fee, be considered Riba ? For example, if I miss a payment one month, I would be charged 10 euro for not fulfilling my side of the contract for that particular month, and the lease would be extended one more month.
Fatwa
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Publication Date
2002-02-21
Main Subjects
Financial and Accounting Sciences
Religion
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-725578
American Psychological Association (APA)
Qahf, Mundhir. 2002-02-21. Conditions in home financing contracts : late fees and penalties. .
https://search.emarefa.net/detail/BIM-725578
Modern Language Association (MLA)
Qahf, Mundhir. Conditions in home financing contracts : late fees and penalties. 2002-02-21.
https://search.emarefa.net/detail/BIM-725578
American Medical Association (AMA)
Qahf, Mundhir. 2002-02-21. Conditions in home financing contracts : late fees and penalties.
https://search.emarefa.net/detail/BIM-725578
