Do you know that in Islam you can set different prices for cash and credit transactions, as long as you only choose one of them? (God’s proposed structure – part 13)
Jami At-Tirmidhi Hadith 1231 (Relating To The Prohibition Of Two Sales In One):
Narrated from Abu Huraira:
“The Messenger of Allah (PBUH) forbade having two sales in one.” There are statements regarding this topic from Abdullah bin Amr, Ibn Umar, and Ibn Masud. [Abu Eisa stated:] The Hadith of Abu Huraira is ranked as a Hasan Sahih Hadith. This is followed in accordance to the people of knowledge. A section of the knowledgeable people have explained it by stating that two sales in one occurs when a person states: “I can sell you the garment either for ten in cash, or twenty on credit.” He does not differentiate between these two sales. However once he distinguishes the sale as being only one of them, then there is no problem if one of these is agreed upon. Ash-Shafi’i stated: “Part of the meaning regarding what the Prophet (PBUH) forbade pertaining to two sales in one, is that if one says: ‘I offer to sell you this house of mine for a certain (price), provided that you sell me that slave of yours for this particular (price). When I receive the slave, then you will be given the house.’ In this manner the sales are distinguished without the prices being established, and neither of the two is aware of what will happen at the end of it (the agreement).” [Jami At-Tirmidhi Hadith 1231]
So in an Islamic Economy you can sell your product/service at different prices for cash and credit transactions, as long as you only choose one of them. You are not allowed to mix both these transaction, i.e. part cash and part credit, that is forbidden.
Do you want to know more of what is allowed and what is forbidden ? How should the economy and finance on the whole be structured?
The book “Islamic Finance and Trade: God’s Economic System”, is the culmination of over 25 years of research, to present the answer to the above question. You are kindly invited to Read, Review and Recommend the book. It is available at https://a.co/d/f1jTXvP and on all Amazon sites.
