IslamQA

Interest transaction

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I have question about sood. In my town people are taking Rs.45,000 for a month and giving the Rs.60,000 or Motor Cycle CD-70 having price of Rs.63,000 after one month, so choice depends upon people either they want Rupees or Bike. So I want to know that whether it is sood or not. Some people are saying that taking rupees is sood but bike is not sood. Please guide me.

Bismillaah

A: In the case of money it is interest and in the case of a motorcycle then this can only work if there is a sale contract in place. And this is not a sale contract because in a sale contract the item that is going to be sold is confirmed. In this case it is left unspecified.

And Allah Ta’ala (الله تعالى) knows best.

 

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)

This answer was collected from MuftiOnline.co.za, where the questions have been answered by Mufti Zakaria Makada (Hafizahullah), who is currently a senior lecturer in the science of Hadith and Fiqh at Madrasah Ta’leemuddeen, Isipingo Beach, South Africa.

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