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The ruling on purchasing something in installments

Financial Transactions,Buying and Selling,The ruling on purchasing something in installments

Fatwa No :
82235
| Date :
0000-00-00

Fatwa No : 82235
The ruling on purchasing something in installments
معاملات / مالی معاوضات / خرید و فروخت

The ruling on purchasing something in installments

What do the esteemed scholars and jurists say regarding the issue of purchasing something on installments? What is the ruling on it? Also, please mention the conditions related to it

الجوابُ حامِدا ًو مُصلیِّا ً

The following are a few conditions which, if observed, make installment-based transactions Islamically permissible and valid. These conditions are:
First, at the time of initiating the contract, it must be clearly decided whether the transaction is to be conducted in cash or on credit.
Secondly, after stating the total price, the total number of installments and the amount of each installment must also be clearly specified.
Thirdly, if for any reason there is a delay in the payment of any installment, no penalty or additional charge should be imposed; otherwise, the contract will not remain valid.

مأخَذُ الفَتوی

ففي المبسوط للسرخسي: وإذا عقد العقد على أنه إلى أجل كذا بكذا وبالنقد بكذا أو قال إلى شهر بكذا أو إلى شهرين بكذا فهو فاسد؛ لأنه لم يعاطه على ثمن معلوم ولنهي النبي - صلى الله عليه وسلم - عن شرطين في بيع وهذا هو تفسير الشرطين في بيع ومطلق النهي يوجب الفساد في العقود الشرعية وهذا إذا افترقا على هذا فإن كان يتراضيان بينهما ولم يتفرقا حتى قاطعه على ثمن معلوم، وأتما العقد عليه فهو جائز؛ لأنهما ما افترقا إلا بعد تمام شرط صحة العقد اھ (13/ 8)۔

And Allah knows best
Darulifta Jamia Binoria Aalamia

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