[Car leasing]

Fatawa Question

As-Salam `Alaykum Sir, In Pakistan, cars are issued on lease. I want a Fatwa on it ? I hope you will understand after following example. If the price of car is, for instance, 6,00,000 rupees but the bank gives you some relief by giving some extra time (4 or 5 years) to pay ; but demands you to pay 8,00,000 (Pakistani currency which is rupee) in several episodes instead of 6,00,000 rupee on the spot. Is it true to get such car ? Is it Riba free ? Isn't it a matter of rent ? Jazaka Allahu.

Fatwa

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Publication Date

2008-03-12

Main Subjects

Financial and Accounting Sciences
Islamic Studies

Topics

• Islamic jurisprudence
• ٌLeasing
• Automobiles

No. of Pages

1

Data Type

Fatawa

Language

English

Record ID

BIM-732591

• APA
• MLA
• AMA