A car costs $150 per week on 0% interest for 4 years. However, if the buyer falls back on paying within the 4 years, he will be charged interest. Can a Muslim sign a contract to buy the car? Or is it ribaa – as the contract will state that if he falls back on his payments and extends paying to more than 4 years, he will pay interest on the installments paid after the 4 years? | Sheikh Assim Al Hakeem
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  5. A car costs $150 per week on 0% interest for 4 years. However, if the buyer falls back on paying within the 4 years, he will be charged interest. Can a Muslim sign a contract to buy the car? Or is it ribaa – as the contract will state that if he falls back on his payments and extends paying to more than 4 years, he will pay interest on the installments paid after the 4 years?

A car costs $150 per week on 0% interest for 4 years. However, if the buyer falls back on paying within the 4 years, he will be charged interest. Can a Muslim sign a contract to buy the car? Or is it ribaa – as the contract will state that if he falls back on his payments and extends paying to more than 4 years, he will pay interest on the installments paid after the 4 years?

12 Jul

This is not permissible as the stipulation of RIBA is in the contract
and he is agreeing to it.

A car costs $150 per week on 0% interest for 4 years. However, if the buyer falls back on paying within the 4 years, he will be charged interest. Can a Muslim sign a contract to buy the car? Or is it ribaa – as the contract will state that if he falls back on his payments and extends paying to more than 4 years, he will pay interest on the installments paid after the 4 years?

Riba | July 12, 2016 3:10 am
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I was a CMA(ICWA) student For completing final of this course i want to complete one month training at that time sometime i wanted to do bank reconciliatiin (secondary data)may also have interest. Mainly this is concerned on reducing cost of a product and cost audit. But sometime as part of training if i do bank reconciliation it is wrong. Because for writing final examination training is must.

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My uncle prays 5 times a day, all in the masjed, he fasts, he wakes up everyday for qiyam and recites Qur’an daily after fajar but he takes riba. My question is,Is it possible for him to be amongst those who Allah loves despite of dealing in riba? How else is he able to wake up for Tahajud and that also daily; I heard only Allah’s chosen ones get the opportunity.

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