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I want to ask that is purchasing anything in installments under a finance scheme with zero percent intrest allowed in Islam? In these schemes I am not supposed to pay any intrest but the bank or the funding body does take some processing charges.

Answered according to Hanafi Fiqh by Darulifta-Deoband.com
I want to ask that is purchasing anything in installments under a finance scheme with zero percent intrest allowed in Islam? In these schemes I am not supposed to pay any intrest but the bank or the funding body does take some processing charges.

Answer

(Fatwa: 416/382=L)

 

You did not mention the detail how they take the charges and for what services. However, if the bank or funding body does not take interest in instalment, rather the bank charges some amount in return of their work and services then it will be allowed.

Allah (Subhana Wa Ta’ala) knows Best

Darul Ifta,
Darul Uloom Deoband

This answer was collected from the official ifta website of Darul Uloom Deoband in India.

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