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Buying Online Via EMI Legal In Islam?
Is buying anything online through EMI legal in Islam? Through this scheme, they give the option of buying through installments but charge you a bit more. This increase in charge is called interest on their websites.
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1 Reply
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Buying Online Via EMI Legal In Islam?
updated 3 months, 3 weeks ago
2 Members
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1
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Riba is charging addition on loan. Not every interest is Riba. The transaction you asked about is a sale and purchase transaction. Paying in Installment is a facility against which an extra price is charged. It is not Riba nor unethical.
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