Resolutions of Iftaa' Board



Resolutions of Iftaa' Board

Resolution No.(61): "Dropping an Amount of Postponed Sale in return for Hasting in Payment"

Date Added : 29-11-2015

 

Resolution No.(61): "Dropping an Amount of Postponed Sale in return for Hasting in Payment"

Date: 7/5/1432 AH, corresponding to 18/7/2002

 

The Board received the following question:

What is the ruling of Sharia on dropping an amount of the postponed sale for hasting in paying the bank?

Answer: All the success is due to Allah

The Board is of the view that it is permissible for the bank to drop an amount of the due price of the Murabah in return for the postponed sale for the (asker) as it sees fit provided that it isn`t a regular procedure that it follows with every client, or was initially conditioned in the Murabaha contract, in order to avoid Riba (usury and interest). This is based on the opinion of the jurists who differentiate between a loan and a sale transaction: it is impermissible to drop the due amount of the loan for hasting in paying it.

However, it is permissible to drop the due amount of postponed sale for hasting in paying it as indicated by the later Hanafite jurists such as Abu Asso`ud Afandi and Ibn Abdeen. And Allah Knows Best. Note: kindly refer to resolution no. (56).

 

Chairman of the Iftaa` Board, Chief Justice, Izz Aldeen Attamimi

Dr. Wasif Al-Bakhri

           Dr. Abdulsalam Al-Abbadi

 Dr. Yousef Ghizaan

    Sheikhb Sa`id Hijjawi

        Sheikh Na`iem Mujahid

              Sheikh Mahmood Shwayat

 

 

 

 

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Summarized Fatawaa

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What is the virtue of performing ‘Umrah in Ramadan?

Ibn ‘Abbas narrated: "When the Prophet ﷺ returned from his Hajj, he said to Umm Sinan Al-Ansariyyah: ‘What prevented you from performing Hajj?’ She replied: ‘Abu So-and-so (referring to her husband) had two camels—he performed Hajj on one of them, and the other was used to irrigate our land.’ The Prophet ﷺ then said: ‘Performing ‘Umrah in Ramadan is equivalent to Hajj with me.’" [Narrated by Al-Bukhari]
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