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Does This Business Contract Come Under Definition Of Riba?
There is a shop in a plaza , if I buy it , then I will be paid fixed rent , plus in contract it is written that I can either keep the shop or sell it . If I want to sell it according to contract the owner of plaza will be liable to pay me 12 percent plus the market rate of the shop. I want to ask if this comes under Riba or not .
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2 Replies
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Does This Business Contract Come Under Definition Of Riba?
updated 4 years, 11 months ago
2 Members
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Replies
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Riba only comes into picture in loan transactions. Since there’s no loan involved, there’s no question of riba.
However, just because there’s no riba doesn’t mean that a transaction stands valid on moral and ethical grounds. Whether it does or not is something that you will have to decide for your own self.
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Yes I agree , then what about the fairness or ethical/moral view on this transaction , Although it is not unfair or gives harm to anyone , one thing I find troubling is fixing of sale plus profit.
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