Leasing aur Qist War – Jaiz ya Haram? – Dr Israr Ahmad

Dr. Israr Ahmad discusses the permissibility of leasing and installment plans in Islamic finance. He argues that these practices often constitute interest (riba) despite being justified by some scholars based on the concept of *bai’ al-muajjal* (deferred payment sale). He highlights the opinions of prominent scholars like Maulana Sayyahuddin Kakakhel and Maulana Muhammad Taseen, who deem such transactions impermissible. Dr. Ahmad acknowledges the prevalence of these practices but maintains that, in his view, they fall within the prohibited category of *riba*. He suggests a phased approach to reducing such practices, starting with implementing measures to mitigate the most egregious forms, even if a complete elimination is challenging.

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