Car dealer arranging finance for the customer

Submitted by admin on Sat, 2015-10-24 16:48

Q: I am a car dealer. Sometimes customers need leasing facilities from financial companies to finance their cars. Can I introduce them to the leasing companies and process with their loan application like collecting their Bank statements, Payslip, ID Card and submit the same to leasing companies and inform them about the rate of interest adopted by the leasing company?

A: This is not permissible for you as you will be encouraging people to take interest bearing loans from the bank.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Zakaria Makada

Checked & Approved:

Mufti Ebrahim Salejee (Isipingo Beach)

Category:

Business and Dealings›Interest and Gambling›Interest bearing loans & Transactions

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