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Buying an item on terms for a fixed price

Answered according to Hanafi Fiqh by Muftionline.co.za

Q: I want to buy furniture for my house as I am shifting to a new flat. But I can’t really pay cash currently. But the shopkeeper is charging interest on that. So is it permissible? I have heard that if I know the total increased price then it is permissible. e.g If I buy a car now I have to pay 8000 but on instalments the new price will be 10,000. But they increase it and say that its the interest rate. However I know the final price so is it permissible?

Bismillaah

A: If the price has been fixed from the inception and it will not increase in any case, then according to shari`ah this is not interest.

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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