He bought Jewelry and borrowed its Price from the Seller
Question :
A person took some gold jewelry from me and the price of the jewelry was 1,000 riyals. So, I said to him, "It is not permissible unless you give me cash." He then said, "Loan me 1,000 riyals." So, I loaned him 1,000 riyals and he gave it to me (to pay for the jewelry). Is this permissible?
Answer:
This is not permissible, because it is a scheme to practice Riba and it is combining two sales contracts (in one) - the contract of a loan and the contract of a sale - which is also prohibited.
Source:
The Permanent Committee
Fatawa Islamiyah, Vol. 3 Pages 365-366
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