Selling something on installments and repurchasing it with cash

Financial Transactions,Interest,Selling something on installments and repurchasing it with cash

Fatwa Binoria
Fatwa No :
28414
| Date :

Fatwa No : 28414
Selling something on installments and repurchasing it with cash
معاملات / مالی معاوضات / سود

Selling something on installments and repurchasing it with cash

We do bargaining for a living. For example: If the price of a car is Rs.1000000, we sell it for Rs.1200000 on installments for a period of 6 months, and repurchase it for Rs.1000000. Is this permissible, or is this considered as interest?

الجوابُ حامِدا ًو مُصلیِّا ً

The aforementioned procedure is just an alternative method of benefiting from interest. This is not permissible as per Shari'ah. This must be avoided.
And Allah knows best.

And Allah knows best
مفتی عطاء اللہ اسماعیل عُفی عنه
دار الافتاء جامعه بنوریه عالمیه
Fatwa No 28414 Verify Now
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