Buying Car on Installment is haram or halal by dr zakir naik,

buying Car on Installment is haram or halal by dr zakir naik, qatar
#drzakirnaik
#zakirnaik
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#islam
#installments
#emi
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#islamic

[@Musahuk_0440]

Love u

[@user-yk5uh4oe8s]

❤

[@toha127]

But if a Islamic bank comes with credit card and pay the payment to the seller and take back the extra cost ftom buyer in EMI?

[@RehmatDeen]

That's the question. I bought a car on hire purchase. The bank paid for it, now I'm paying them back. But they didn't lend me money to do as I please, they bought the car, so is it riba? I don't know. From my perspective, it's just monthly installments, and the price is fixed

[@jerrysingh2269]

But if I am giving my car on installment to someone on a higher price, is putting a penalty on late payment Haram? Because otherwise everyone would pay late

[@user-et1vz2ru6l]

There is no islamic bank in Islam.. All are fake... Religion business. Actually riba is when your 20% yearly saving not goes to miskeen ( 5 to 8 category). Every person businessmen, officeworker👷, job etc if they save something after his expenditure in a year, this amount is profit and must give 20% of this saving amount to 5 to 8 categories in Quran.