Question:
786
Salam aaleykom, Can you tell me if its halal for me to buy a taxi cab with riba. Now I’m working for someone and I’m paying a rent for the cab. If I buy it , the cab gonna be mine in 7 years , that way I can work for my self.
Thank you for your help.
Answer:
It is almost impossible today anywhere, especially in the West, to get an interest-free loan. In order to own your taxi cab which is essential to provide for your family you are allowed to purchase such a car based on installments. You will pay a percentage of the cost as down payment and the rest periodically. Allah knows best.
Shaykh Senad Agic
