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Clarification On A Sale On Credit

Answered according to Hanafi Fiqh by DarulUloomTT.net

Question: Is it permissible for Zaid by way of Murabahah to buy a car for $10,000.00 and sell it to Bakr for $15,000.00 on credit, when Bakr could not have brought it for cash $10,000.00. Is this Riba?

 

Answer:Yes, it is permissible for Zaid to do so, and it would not be considered as Riba. However, this price must be agreed upon by both parties and the allocated time for the payment must be fixed.

(Kifaayatul Mufti, Volume 8, Pg.40 / Shaami, Volume 5, Pg.142 / Hidaayah, Volume 3, Pg.74 / FatawaDarulUloomDeoband, Volume 3, Pg.642 / Shaami, Volume 5, Pg.132 / Hidaayah, Volume 3, Pg.71).

And Allah Knows Best.

Mufti Waseem Khan.

This answer was collected from DarulUloomTT.net, which is operated under the supervision of Mufti Waseem Khan from Darul Uloom Trinidad and Tobago.

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