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Q :
Is the purchase of goods in instalments considered Usury in Islam?
A :

Purchasing goods in instalmentsand the accumulation of interest to the known price of goods is allowed as long as this is done through a deal between the seller and the buyer. There only condition is that the deal should be conducted directly between both parties. However, if the buyer takes a bank loan with interest to buy goods or if there is a middle person involved then both must divide the price including the interest. This is called Usury in Islam, Allah Say: " أَحَلَّ اللَّهُ البَيْعَ وَحَرَّمَ الرِّبَا " (translation: But Allah hath permitted trade and forbidden usury).

Dr. Mahmoud Khiamy


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