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The question

Is it permissible to acquire a taxi by installments from a bank, knowing that the bank acquired it from the supplier?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

It is permissible for a person to buy and sell goods with known deferred payments, provided that the recognized conditions are met, such as prior agreement on the payment method (installments or immediate payment) to avoid two sales in one transaction, and due to the Prophet's (peace be upon him) prohibition of selling what one does not possess. It is also a condition that the contract does not include interest on late payments, as this is considered usury (riba). If the purchase is made validly, the buyer may use the goods in any lawful manner.

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
80898
Imported
Translation status
Source text, unreviewed
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