Answered by: Mufti Muhammad Adnan
Is buying a laptop in monthly instalments in UK from curry or argos halal or hararm given that they say there is fixed money you have to pay every month with fixed interest and fixed APR??
In the Holy Quran Allah has said:
“Allah has permitted transactions and has forbidden riba”
(Surah Al Baqarah v.275)
The Prophet of Allah has cursed the person who takes interest, who gives interest and who writes it and who witnesses it.” (Mishkaatul-Masabeeh p.244 v.1)
“To take dirham of interest knowingly is worse than committing adultery 36 times.” (Mishkaatul-Masabeeh p.246 v.1)
The wealth of the riba-consumer, no doubt appears to be increasing, but no matter how increased is the wealth of the riba-consumer, he remains forever deprived of its fruits that is comfort and honour. They will have less satisfaction and peace of heart.
However, a person who gives zakat and regularly gives sadqah will have more satisfaction and peace of heart, which is the real comfort. (Maariful Quran p.674 v.1)
Allah in the Holy Quran has said:
“Allah destroys riba and nourishes charities”.
(Surah Al-Baqarah v.276)
From the aforementioned information, we can clearly deduce the prohibition of taking interest and also in dealing with it.
Coming to your question, interest, whether fixed or fluctuating, little or excessive, is still regarded as interest and is haram. However, if the monthly instalment is a fixed amount and no interest is added then it will be permissible.
Only Allah Knows Best
Written by Mufti Muhammad Adnan
Checked and approved by Mufti Mohammed Tosir Miah
Darul Ifta Birmingham
This answer was collected from DarulIftaBirmingham.co.uk, which is run under the supervision of Mufti Mohammed Tosir Miah from the United Kingdom.