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Stats: 17,469 members, 69,331 Topics, 15,454 Comments. Date: Jun 18 2019, 3:53 pm

Rufai Oladimeji
Lagos State University
English
100Level, Nigeria.
Question

I am working as Sr. Area Manager, in Singer
Pakistan Limited, Rawalpindi, Pakistan. My
company Manufacture and imports domestic
products and sell it on installment higher
than the cash price on 6, 9, 15, 18, and 24
months installment for each period markup
is different in percentage. There is also an
option that if a customer pays with in three
months time no markup will be charge but
only Rs.500/- (Pak Rupees) will be charged.
My company makes an agreement with the
customer on rent which means that the
customer will pay rent to company till the
last installment is paid than the ownership is
transferred to the customer. Before that if
customer defaults the company has the right
to take its product back and has the right
not pay back the money customer has given
till that time. In case of any damage to
product the responsibility will be on
customer. Kindly let me know that this
business is Halaal or Haraam and on behalf
of this is my job Halaal or Haraam?

Fatwa:

All perfect praise be to Allah, The Lord of the
Worlds. I testify that there is none worthy of
worship except Allah, and that Muhammad
is His Slave and Messenger.

Your question included many issues:
Fist Issue : selling by instalments: we have
already clarified that there is no harm in
selling by instalments on the condition that
the goods are sold with a definite price
known to both parties and that this price
should be fix and does not change even if
there is a delay in the payments. With this
fulfilled, there is no harm if the price of the
goods sold by instalments is more than its
cash price or that its price at a long term is
more than its price at a short term.
The Second Issue : if the customer rushes in
paying the instalments during three months
then the additional amount on cash payment
for the goods will be dropped by 500
Rupees. This issue is known by the jurists by
'dropping an amount from the total price
because of hasting in paying some of it cash';
it means conditioning dropping a portion of
the debt in return for paying some of it
cash. The majority of the jurists, may Allah
have mercy on them, are of the view that it
is forbidden as it involves Ribaa (usury and
interest). Ibn Rushd , may Allah have mercy
on him, said: 'The grounds of those who did
not permit 'dropping an amount from the
total price because of hasting in paying some
of it cash' is due to its resemblance to
interest [additional profit] if payment is
delayed, and there is a consensus that this is
forbidden; the resemblance is that there is a
part of the price put in return for the time
in both cases. '
The Third Issue : The company agreed with
the customer on the rent according to the
method mentioned in the question. This
method is known by the jurists, may Allah
have mercy on them, as rent that ends with
ownership of the property. This method has
many procedures, some of them are
permissible and some of them are not
permissible. The method mentioned in the
question is among the types that are
forbidden.

Therefore, if you are able to involve yourself
in what is permissible without engaging in
what is forbidden or help others in such
forbidden matters, then there is no harm for
you in working in this company. However, if
you are unable to limit yourself to what is
permissible, then you are obliged to leave
this work, and whoever leaves something for
Allah's Sake, Allah will compensate him with
something better.

Allah Knows best.

www.islamweb.net/en/article/158777/dropping-an-amount-of-the-due-price-for-hasting-in-paying-some-of-it-cash

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