Back to search
The question

Is purchasing a car in installments from a company through a bank, where the bank's role is limited to transferring the monthly installments from the buyer's account to the company's account in exchange for a commission, considered usury?

Share this answer

Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

There is no objection to the aforementioned transaction as long as it does not include a condition for an increase in installments upon delay in payment. There is also no objection to the bank taking a commission for transferring the installments to the company's account, because the transfer is a service for which compensation may be taken. This has no relation to usury as long as the installment is transferred from the buyer's account balance and is not a loan from the bank.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

Read the full answer on Ftawy
Where this answer came from
Source platform
Ftawy
Original fatwa ID
122964
Added here
. This is when the answer was added to El Fatwa, not the fatwa's date.
Text
Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
Read the full ruling
Read the full answer on Ftawy