Talk:Islamic banking and finance
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Credit sales
editThe paragraph that talks about credit sales mentions that:
> An increase over the principal sum in financing a purchase of some product or commodity is another matter. These are not riba
This is not correct. Increasing the price in exchange for delaying payment (or paying in installments) is Riba. There are Hadiths about it such as:
> من باع بيعتين في بيعة فله أوكسهما أو الربا
Can be translated to a certain degree as "whomsoever makes two sales in one can take the lesser of the two, or he has consumed Riba".
Both Ibn 'abbas and Ibn Mas'oud explained the Hadith as offering an item to sell for a certain price cash (up front) or credit (delayed payment) while increasing the price in the later case, and this increase in price is Riba. Ibn Taymiyyah also explained it the same way.
Can we add an explanation here to note this critical point?
Agriculture
editHow to plat 105.112.114.250 (talk) 22:12, 8 September 2024 (UTC)