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Difference in the cash price and credit price

Answered according to Hanafi Fiqh by Muftionline.co.za
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Q: Is buying things in installments permissible in Islam? It does not come as sood (interest)? The actual price is different from the price when you buy it in installments.

Bismillaah

A: If the price is fixed from the beginning and there will be no interest charged on late payment of the instalments, then it is permissible.

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

 

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

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