Murabahah and installment sale : sale on description

Fatawa Question

[Question One] Asalam-O-Alaykum Dr. Monzer Kahf, Ramadan Kareem to you and your family ! My name is Yasser and I live in California, USA. I have a business in mind to start but I am in doubt if it is Halal or not and need your input and guidance. I would like to open an online internet website which will list various brand name products (clothing, jewelry, watches, handbag, electronics etc.) for sale that consumers can buy if they like. A quick overview of the business model is as follow ; -I will create and maintain a merchant online store (website) from USA. The website will cater consumers from other countries (outside USA). -I will publish a list of products on my website for sale. Customer will place the order and make the payment for the product of their choice. Upon order / payment confirmation I will then purchase the product from the local vendor / shop in USA and will ship the product to the end customer to the country where they reside. Can you please explain in detail if it is Halal or Haram ? If possible can you please also explain the stand of four madhhab’s on this issue, is it permissible or not permissible in all the four madhhab's ? Please let me know if you have any question or need any further clarification from me to keep me on the Halal path. I am looking forward to your response and guidance. Have a great day ! Jazakallah, [Question Two] Jazakallah for taking time out and replying to my query. Can you please also confirm if selling a product on description by giving full description and future delivery is permissible and accepted in all the four major Madhhab's ? Is the majority of Muslim Ummah united on this concept. I am also curious if this concept was present during the time of Prophet Mohammad P.B.U.H ? Is there any Hadith or a verse from a Quran supporting this concept ? Jazakallah again for your time, your valuable input and your guidance. Regards, Yasser

Fatwa

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Publication Date

2009-09-14

Main Subjects

Economy and Commerce
Islamic Studies

Topics

• Islamic jurisprudence
• Resale on profit
• Installment sales

No. of Pages

2

Data Type

Fatawa

Language

English

Record ID

BIM-734517

• APA
• MLA
• AMA