Buying a land from a trader and selling it to him again in installments
Q: I would like to inform Your Eminence that I want to
buy a piece of land to build a house. This land costs one hundred-thousand Riyals. I cannot pay this sum
at the present time. I would like Al-Rajhi Bank to buy this land for me. They will not pay its price to the owner except after a contract is signed between us and they take the necessary guarantees. Is this kind of sale permissible? May Allah protect you.
If the case is as you have mentioned, this kind of sale is not permissible. May Allah set right the conditions of all of us. (Part No. 13; Page No. 251)
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.