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Buying A Course On Installments
Assalamualaikum
I want to buy a course on Installments. But they are Charing a markup of 10% on instalments as compared to original value. The doubt here is that, according to the mortgage system, the seller charges rent plus the value of the thing to be bought. But here, there can’t be any rent, according to me, as it’s an online course. Will it fall under interest or riba if I pay the mark-up on Installments?
Kindly guide me on the above issue.
Expecting a response soon.
Jazak Allah
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1 Reply
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Buying A Course On Installments
updated 1 year, 6 months ago
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Demanding profit on loan is Riba (Sood) and is Haram in Sharia.
In this particular arrangement, there is no loan transaction, rather a course is being sold in installments and for deferred payment of this service (the course being sold), they are charging extra. There is no element of riba in this transaction.
Secondly, the concept of copyrights in the software world has given them a similar status as to ownership of a tangible property. Therefore, using a course with rights still not fully transferred may very well create a situation similar to rent; where you will be paying for using intellectual property of the institution without having complete rights to use it.
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