Q: We have a company selling computers with Muslim and non-Muslim customers.
Some customers require financing/loans (which comes with interest) through third party financing institutions to buy the equipment from us.
Firstly, is it permissible for us to accept the payment from the financial institution on their behalf? We are not engaging in interest but we have to be registered as an authorized supplier with the institution.
Secondly, as some Muslims also tend to go through the same system, we want to provide an in-house interest-free financing facility for our Muslim customers only so that they do not have to pay interest and get a short-term facility on their purchase from us. Can we make the credit price higher than the cash price? For example, if R100 is the cash price, can we charge R125 for credit term over 6 monthly instalments?