Fatwa No : 80404
Ruling on a mode of purchasing vehicle on installments

Ruling on a mode of purchasing vehicle on installments

What do the learned muftis say about the following issue: a person wants to buy a house and a car from a bank on installments? The situation is that the car, which has its normal price (10 lakhs), is sold to a person for a little more than this normal price (12 lakhs). It should also be clear that if the installment payment is delayed from the due date, the bank imposes a penalty on the said person. Now the question is whether it is permissible to buy and sell, a car and a house from the bank according to Shariah in the above case or not? Please explain the matter according to the Quran and Sunnah.

الجوابُ حامِدا ًو مُصلیِّا ً

If there is an Islamic Bank in the vicinity of the questioner and is practicing Islamic banking properly, then he should buy a car from such a bank. However, if there is any doubt about in its procedures, write down the full details and resubmit the question. However, it is not permissible to buy a car as mentioned in the question, and it is necessary to avoid it.

مأخَذُ الفَتوی

کمافي حاشية ابن عابدين: (قوله كل قرض جر نفعا حرام) أي إذا كان مشروطا كما علم مما نقله عن البحر اھ (5/ 166) والله أعلم بالصواب!