This Contract is correct
Category: Riba, Loans and Working in Banks

This Contract is correct


Question :

A person took a sum of 10,000 from another person with an agreement that he would buy a car for him and this was to be done a year after his receiving the mentioned 10,000. Is this contract permissible or not?


Answer:

If the matter is as mentioned, and the car's characteristics were known, and the 10,000 was the total price, and the appointed time was known, then the contract is correct.


Source:
The Permanent Committee
Fatawa Islamiyah, Vol. 3 Page 354

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