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Penalty fee for 0% financing

Last updated: 2nd December 2019
Question ID: #4334
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As salamu alaikum, I wanted to finance a laptop with 0% interest a month. The contract says that if you don't pay in a month, you have to pay interest as a penalty. Can I enter into such a contract?




In the Name of Allah, The Most Gracious, The Most Merciful



To charge late fees for a due payment is not permissible as it is tantamount to Ribā (interest/usury). [1]


When an individual enters into a loan transaction with an invalid condition such as agreeing to pay interest on late payments, then such transaction will be regarded permissible and the invalid condition (of paying interest on late payments) will be void.


If you intend to finance the laptop in such a manner, then you should do so on condition that you are confident in paying back the amount owed before its due date. If you are not confident in being able to pay back the owed amount by its due date, then the financing of the laptop will not be permissible. [2]



And Allah Ta’āla knows best



24 December 2019 / 27 Rabī’ul Ākhir 1441 AH



_____________________


[1] 


الَّذِينَ يَأْكُلُونَ الرِّبَا لَا يَقُومُونَ إِلَّا كَمَا يَقُومُ الَّذِي يَتَخَبَّطُهُ الشَّيْطَانُ مِنَ الْمَسِّ ۚ ذَٰلِكَ بِأَنَّهُمْ قَالُوا إِنَّمَا الْبَيْعُ مِثْلُ الرِّبَا ۗ وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا ۚ فَمَن جَاءَهُ مَوْعِظَةٌ مِّن رَّبِّهِ فَانتَهَىٰ فَلَهُ مَا سَلَفَ وَأَمْرُهُ إِلَى اللَّهِ ۖ وَمَنْ عَادَ فَأُولَٰئِكَ أَصْحَابُ النَّارِ ۖ هُمْ فِيهَا خَالِدُونَ - سورة البقرة ٢٧٥:٢ 


Those who consume interest cannot stand [on the Day of Resurrection] except as one stands who is being beaten by Satan into insanity. That is because they say, "Trade is [just] like interest." But Allah has permitted trade and has forbidden interest. So whoever has received an admonition from his Lord and desists may have what is past, and his affair rests with Allah . But whoever returns to [dealing in interest or usury] - those are the companions of the Fire; they will abide eternally therein. [Surah Al-Baqarah 2:275]


يَا أَيُّهَا الَّذِينَ آمَنُوا اتَّقُوا اللَّهَ وَذَرُوا مَا بَقِيَ مِنَ الرِّبَا إِن كُنتُم مُّؤْمِنِينَ - سورة البقرة ٢٧٨:٢ 


O you who have believed, fear Allah and give up what remains [due to you] of interest, if you should be believers.  

[Surah Al-Baqarah 2:278]


فَإِن لَّمْ تَفْعَلُوا فَأْذَنُوا بِحَرْبٍ مِّنَ اللَّهِ وَرَسُولِهِ ۖ وَإِن تُبْتُمْ فَلَكُمْ رُءُوسُ أَمْوَالِكُمْ لَا تَظْلِمُونَ وَلَا تُظْلَمُونَ - سورة البقرة ٢٧٩:٢ 


And if you do not, then be informed of a war [against you] from Allah and His Messenger. 

But if you repent, you may have your principal - [thus] you do no wrong, nor are you wronged.  [Surah Al-Baqarah 2:279]



[2] 


(وَفِي الْخُلَاصَةِ الْقَرْضُ بِالشَّرْطِ حَرَامٌ وَالشَّرْطُ لَغْوٌ  - (الدر المختار ورد المحتار، ج٥ ص١٦٦، دار الفكر


قَوْلُهُ (وَمَا لَا يَبْطُلُ بِالشَّرْطِ الْفَاسِدِ الْقَرْضُ) بِأَنْ قَالَ أَقْرَضْتُك هَذِهِ الْمِائَةَ بِشَرْطِ أَنْ تَخْدُمَنِي شَهْرًا مَثَلًا فَإِنَّهُ لَا يَبْطُلُ بِهَذَا الشَّرْطِ وَذَلِكَ؛ لِأَنَّ الشُّرُوطَ الْفَاسِدَةَ مِنْ بَابِ الرِّبَا وَأَنَّهُ يَخْتَصُّ بِالْمُبَادَلَةِ الْمَالِيَّةِ وَهَذِهِ الْعُقُودُ كُلُّهَا لَيْسَتْ بِمُعَاوَضَةٍ مَالِيَّةٍ فَلَا تُؤَثِّرُ فِيهَا الشُّرُوطُ الْفَاسِدَةُ ذَكَرَهُ الْعَيْنِيُّ فَيُقَالُ لَهُ فَكَيْفَ بَطَلَ عَزْلُ الْوَكِيلِ وَالِاعْتِكَافُ وَالرَّجْعَةُ بِالشُّرُوطِ الْفَاسِدَةِ مَعَ أَنَّهَا لَمْ تَكُنْ مِنْ الْمُبَادَلَةِ الْمَالِيَّةِ وَفِي الْبَزَّازِيَّةِ وَتَعْلِيقُ الْقَرْضِ حَرَامٌ وَالشَّرْطُ لَا يَلْزَمُ

(البحر الرائق شرح كنز الدقائق، ج٦ ص٢٠٣، دار الكتاب الإسلامي)


Mufti
Answer last updated on:
30th December 2019
Answered by:
Ulamaa ID 17
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