QuestionsCategory: Fiqhquestion-about-interest-issue
Tin Mustafa asked 2 years ago

Assalamualikum, My name is Mustafa and I am from Cambodia. I would like to have some questions regarding Riba. I used to purchase some household products for my home by installment payment with the bank. In the past I didn\\\’t realize that this kind of purchase was associated with Riba. Someone told me that when you make the purchase, as long as you don\\\’t ask the bank about the interest and just ask for the full price of installment payment, and you consider the price is higher than immediate payment due to seller take risk of future inflation, it is fine to purchase. Just recently I watched some commons from Ulama om Youtube regarding this matter, if the interested is stipulated in the agreement and you sign on it, then the purchase is associated with Riba and it is Haram. Now I fee very guilty and dissapointed for what I did with this type of purchase. However I tried to discuss with the bank to clear the settlement, the bank said some interest still apply as it is the bank rule. Now I would like to seek your advise: what should I do if I didn\\\’t aware of this sinful mistake? what should I do with the products that I\\\’ve already purchased which I believe they are associate with interest (Riba) your advise is very much appreciated. May Allah bless you. Thanks