Is it permissible or impermissible to purchase a car in installments from Faysal Islamic Bank, with a contract that includes conditions such as calculating compensation for late payment, considering the car a trust with the buyer with conditions for its preservation and non-disposal, and the bank's right to repossess the car and annul the contract or demand the remaining price immediately upon breach of conditions?

It is not permissible to purchase a car by installments from the aforementioned bank because the contract contains two prohibited elements:

Firstly: Stipulating a penalty for delayed payment, which is forbidden usury (riba). Resolutions from Fiqh academies have explicitly prohibited such penalties, even if the buyer is confident in their ability to pay, due to the implicit approval of usury.

Secondly: Suspending ownership until all installments are paid, and deeming the car a trust in the buyer's possession. This condition contradicts the essence of a sales contract, which dictates the transfer of ownership upon the conclusion of the contract. The seller is not entitled to retain ownership after the sale; however, they may stipulate pledging the sold item as collateral to guarantee the installments.