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Receiving discount if instalments are paid prior to the due date

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I’m buying a flat in installments. The company is giving discount if I pay the installments prior to the due date. Is it interest? Is it halal?

Bismillaah

A: It is incorrect.

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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