Sunday, September 15, 2013

Fathwa, - Evidence that Muraabahais permissible

Question
salam, can you please provide the references of hadiths which permits
murabaha transaction?
Answer
All perfect praise be to Allaah, The Lord of the Worlds. I testify
that there is none worthy of worship except Allaah, and that Muhammad,
is His Slave and Messenger.
Muraabahah is the sale of goods at cost plus a known profit mark-up
and it is stipulated that the two parties of the contract must know
the cost.Ibn Qudaamahsaid: "This is permissible and there is no
difference in opinion regarding its validity and we do not know any
scholar who disliked it."
The evidence of permissibility is the general text and the general
principle. As for the text, it is the saying of Allaah The Almighty
)which means(: }And Allaah has permitted trade{]Quran 2:275[ As for
the principle, it reads: "The basic principle concerning transactions
is that they are permissible" asAl-Qaraafistated in Al-Furooq and as
stated by other Muslim scholars.
The Fifth Conference of the Islamic Fiqh Council held in Kuwait issued
the following statement regarding that kind of sale: "Muraabaha sale
by purchase orderer is permissible on goods already in the physical
possession of the seller, as required by Sharee'ah, provided the
seller carries the risk of loss before delivery or the consequences of
returning the purchased goods because of unseen defects or any other
reasons justifying the return of the goods after their reception,
provided the conditions of the )valid( sale are met and with the
absence of any impediments."
Finally, we do not know any Hadeeth that indicates Muraabahah in
particular apart from other forms of sale; however, it is included in
the general text that we have stated previously.
Allaah Knows best.

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