sachin4islam
Junior Member
Assalamu Alaikum:
My friend recently made a transaction to buy a piece of land. The proposed cost of the land by the owner was $60,500 per unit (In India this unit is called Bigha). My friend finalized the deal @ $65,000 per unit. By offering $5000 more per unit my friend was relieved from instantaneous payment of wholesome money. The owner of the land agreed to receive total payment within a span of nine months.
Thus my friend is going to pay additional $20,000 for the deal of four units of land.
Now my question,is this deal not indirectly based on interest?. Or how the deal appears in Islamic perspective?.
My friend is a very devoted Muslim. When I asked him for my question he couldn't place a convincing reply.
Regards.
My friend recently made a transaction to buy a piece of land. The proposed cost of the land by the owner was $60,500 per unit (In India this unit is called Bigha). My friend finalized the deal @ $65,000 per unit. By offering $5000 more per unit my friend was relieved from instantaneous payment of wholesome money. The owner of the land agreed to receive total payment within a span of nine months.
Thus my friend is going to pay additional $20,000 for the deal of four units of land.
Now my question,is this deal not indirectly based on interest?. Or how the deal appears in Islamic perspective?.
My friend is a very devoted Muslim. When I asked him for my question he couldn't place a convincing reply.
Regards.