One of my brothers is staying in rented house and the owner of the house owes some money to my brother. so, the owner asked my brother to pay some amount of rent monthly until he repay the borrowed money and after that pay the double of that rent what he is paying now. So, basically they reduce the rent for a period until he repay the amount. I want to confirm that is this kind of interest only??
One of my brothers is staying in rented house and the owner of the house owes some money to my brother. so, the owner asked my brother to pay some amount of rent monthly until he repay the borrowed money and after that pay the double of that rent what he is paying now. So, basically they reduce the rent for a period until he repay the amount. I want to confirm that is this kind of interest only??
24Mar
ANSWER:
This is clear riba as he is giving him less rent in exchange for the loan which is interest over the loan.
One of my brothers is staying in rented house and the owner of the house owes some money to my brother. so, the owner asked my brother to pay some amount of rent monthly until he repay the borrowed money and after that pay the double of that rent what he is paying now. So, basically they reduce the rent for a period until he repay the amount. I want to confirm that is this kind of interest only??