Is it permissible to purchase a car in installments from a bank that owns and holds the cars, knowing that no additional dues are incurred in the event of failure to pay the monthly installment?
If the bank owns the car it sells to the buyer in installments, without stipulating a late payment penalty, then this transaction is permissible and there is no objection to it.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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