Published 9 years ago
Last updated 9 years ago
Q: My question is if I was to buy a car for someone which had a value of £15000 which is based as a loan from me to the other person and they will pay me back in monthly instalments until I get my full money back, is this considered as RIBA (Interest)?
A: If it is an interest free loan that you are giving him and he will not repay you anything more than the loan, it will be permissible.
And Allah Ta'ala (الله تعالى) knows best.
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