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Riba

Q:

Assalamu Alikum I am basically from India(Kerala). Now working in Kuwait for the last 12 years. I need one advise. One man selling an item to everybody at 60 KD. Same time he is allowing people to pay KD 20 first then after 2 months 20 Kd and after 4 month another 20 Kd. He is not taking any amount extra .His one-time price and instalment prices are the same. he is doing instalment for increasing his business. Is this coming under riba? Can I buy this item? Kindly advise. I am discussing this with my friends. Everybody telling different opinion. Kindly help me. Thank you

A:

Alaykum Salaam

In the way you have described it is not Riba, because the one-time and instalment price is the same.

Kind regards

Abbas Jaffer