Dr.Monzer Kahf, a prominent economist and counselor states: “what determines permissibility of taking cars issued on lease is not the amount of the difference (although there must be no overcharge above the market) but the nature of the contract. If it is a loan any increment above its principle is interest that is haram. If it is a lease/purchase or installment sale (whereby the bank buys the car and rents it to you or sells it to you) then it is permissible even with the higher prices.”
Cars issued on lease
Did you like this content?
Recommended
Helping People: A Sign of Allah’s Favor
A Pledge with Allah Should Be Esteemed
Abandoning wife’s bed, allowed or not?
Can We Feel Joy While Oppressed Muslims Are Suffering?
Proofs of Muhammad’s Prophethood
A welcome message to new Muslims
Making up for Years of Missed Prayer
Vaginal Discharges and Prayer
Qualities to Look for in a Spouse
Religious Human Rights & the Qur’an
Top Reading