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Fatwa CenterMaaliki view on buying and selling by installments
Question
Assalaamu alaykum. I want to know if there are differences of opinion regarding selling or buying by installments in the Maaliki School of Thought. I would like to know what the position of ancient scholars who lived in the past, including Imam Maalik and those who came after him, was, as well as the position of the contemporary scholars of the Maaliki School of Thought.
Answer
All perfect praise be to Allah, The Lord of the worlds. I testify that there is none worthy of worship except Allah and that Muhammad, sallallahu ‘alayhi wa sallam, is His slave and Messenger.
Selling on credit or by installments means the sale of a specific item for a specific price within a specific time. In this type of sale, the buyer is scheduled to make a series of payments over a period of time according to the contract that was concluded between him and the seller. This sale is permissible, and there is no difference between it and the cash sale or the deferred payment sale.
We do not know of any difference of opinion among the Maalikis or the contemporary scholars in this regard. The only exception is that some scholars held that it is impermissible to charge a higher price in return for deferring the payment. However, it is contrary to the scholarly view of the majority of the scholars.
The resolution of the Council of the Islamic Fiqh Academy, affiliated with the Organization of Islamic Conference, reads, "It is permissible to sell an item on credit for a higher price than if it is paid for immediately."
Allah knows best.
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