Recently i went through a correspondence course prospectus in which the fee structure was mentioned like Total course fee Rs. 1,200/- in 12 instalments of Rs. 100 per month….

Answered according to Hanafi Fiqh by Askimam.org

Recently i went through a correspondence course prospectus in which the fee structure was mentioned like Total course fee Rs. 1,200/- in 12 instalments of Rs. 100 per month.  If we pay in lumpsum on joining the course fee is only Rs. 1,000. Could you plz tell me whether if i select to pay with the instalment scheme, is the excess Rs. 200 equal to interest according to Shariah.?

Answer

In the name of Allah, Most Gracious, Most Merciful

Assalaamu `alaykum waRahmatullahi Wabarakatuh

The free structure is according to Shariah.

In effect if one pays a lumpsom amount, he will get a discount of Rs.200. The Rs.200 in the monthly installments of Rs.200 will not be interest.

And Allah knows best

Wassalam

Mufti Ebrahim Desai
Darul Iftaa, Madrassah In’aamiyyah

Source

Facebooktwitterpinteresttumblrmail
Sidebar