Rules Concerning Ribā: Ruling on Buying a Vehicle as an Agent and Then Reselling It on Instalments

Practical Laws of Islam as per the teachings of Imam Khamenei

Rules Concerning Ribā: Ruling on Buying a Vehicle as an Agent and Then Reselling It on Instalments

English:

Question #1606:

A driver was interested in buying a truck. He approached another person to give him the money. The driver bought the truck in his capacity as agent for the money owner. The latter sold the truck to the driver by instalments. What is the ruling in this matter?

Answer #1606:

There is no harm in such a transaction if it was concluded on behalf of the owner of the money, who sold it [the truck] to the agent by instalments. That said, both the parties should be serious in making the deal, i.e. their intention should not be to find a way out of ribā.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Rules Concerning Ribā