Question:
Salaam Alaikum
Respected Sheikh
I am doing a business by Buying cars through cash and 9 out of 10 times selling through commercial Bank finance and some times through Islamic bank.
Is it permissible to sell through commercial banks?
Jazakallah.
Answer:
As-Salamu ‘Alaikum,
It does not matter that the bank is commercial (non-Islamic) if it is going to buy a car from you and then sell it to the customer. But if the role of the commercial bank is to provide finance and pay on behalf of the customer without buying a car from you, then this in fact is a riba-based loan which is haraam. Allah knows best.
Dr. Senad Agic, Imam
SABAH – Chicago
9920 Grand Ave
Franklin Park, IL 60131
