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The question

Is it permissible to continue working as a treasurer for a goods financing company, knowing that the company has started financing goods that are not in its warehouses, and are being purchased from other merchants?

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

Firstly: It is permissible for the company to sell goods it owns in installments, provided that the contract does not include a penalty for late payment.

Secondly: It is not permissible for the company to sell goods it does not own, nor to sell goods it owns before taking possession and seizing them, due to the hadith: "Do not sell what you do not have," and the hadith: "If you buy something, do not sell it until you take possession of it." An exception to this is the sale of a described item that is in one's liability immediately and the form of a Salam contract (with the full price being paid upon contract).

Thirdly: The company has permissible options for dealing with installments for goods it does not own, including: 1. Murabaha sale: This is when the company promises the customer to buy the item, then buys it, takes possession of it, and sells it to the customer in installments (without taking money from the customer at the promise stage). 2. Agency for the buyer for a fee: This is when the company buys the item for the customer in exchange for a percentage or a fixed fee. 3. Agency for stores for a fee: This is when the company agrees with stores to sell their goods in exchange for a fee or a percentage.

Fourthly: It is permissible for you to work and collect installments if the company's dealings are permissible. However, if they are impermissible, you are not allowed to assist in them. But if your work is limited to the permissible part, then there is no harm.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
15877
Imported
Translation status
Source text, unreviewed
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