بیع بالتقسیط (Installment-Based Trade) کی رائج صورتوں اور مسائل کا شرعی جائزہ

Abstract

Installment-based trade has been a part of commercial transactions since ancient times, serving the needs of both individuals and traders. It is widely practiced not only in general markets but also in the banking sector. In the modern era, certain non-compliant (Shariah-violating) elements have become associated with installment transactions, but awareness of these issues among traders and the general public is minimal. Despite its extensive usage, the lack of understanding regarding its religious and ethical implications has given rise to various problems. Considering the significance of this financial practice, the present research paper examines the contemporary forms of installment-based trade (Bay' al-Taqsit) from the perspective of Islamic teachings. The study evaluates modern applications, such as the purchase of vehicles, real estate, and electronics on installments, in light of the principles of Islamic Shariah. It also explores the opinions of both classical and contemporary scholars, highlighting aspects of Shariah compliance. Additionally, the research analyzes the role of banking institutions in installment-based transactions, comparing the approaches of Islamic and conventional banks. Towards the conclusion, the paper presents recommendations on how to align installment-based trade with Islamic principles more effectively, ensuring its sustainable use for economic growth.