What is the ruling on tawaruq al-tajseer (bridging tawaruq) at Al Rajhi Bank, where shares are sold to the customer equivalent to the installments paid on a previous loan, and repayment occurs after the current loan ends, with a new contract different from the first?

A ruling on a specific transaction requires a complete understanding of it. Tawaruq (monetization) is permissible when there is a need for it, and its condition is to genuinely purchase a commodity at a deferred price, then sell it for a cash price to someone other than the original seller, after it has come into the buyer's possession and responsibility. There is no impediment to the second financing if it is not stipulated that the first financing be paid from it. The first financing does not affect the permissibility of the second financing, as the initial debt does not increase, and this is an independent financing. The increase in profit is due to the payment period. It is advisable to refer to the Sharia board of the bank concerned.