16 Sha'ban 1440

I want to buy a certain lot via installment basis..the condition is if i pay it for 1 year monthly basis, the total will be a certain price but if I pay it for 2 years the total will be 12 % higher than 1 year payment. No bank involve here. Is it riba?

By Admin
In Halal/Haram Matters
Feb 14th, 2019
0 Comments
252 Views

ANSWER:

If the final price is fixed and can’t be changed no matter what after signing the contract and it is sold by the owner, this is permissible.

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