19 Ramadan 1440

Regarding latest question: u cant sell something u dnt own. resellers- who buy from the company at factory rates and then sell it to customer by adding own profit.All the furniture resellers only order when the customer orders and pays atleast 50% of money.dey dnt own it (becoz its not even made yet) they use customers money to order frm company.u said its not permissible?

By Admin
In Islamic Economy
Aug 4th, 2015
0 Comments
896 Views

This is called istisnaa and it is having something made for you with well known specifications and description with an advanced payment and a defined time of delivery. This is permissible. What is not permissible is to sell something that is specific and known; for example: my friends car which I don’t own and have no prior authority of selling it, i say to you I sell it for so and so!

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