Is charging those who pay in instalments more than the usual price considered interest (riba)?


Someone wrote to Hazrat Amirul Momineen, Khalifatul Masih Vaa and asked if it was considered interest, while selling goods of everyday use, to charge those who pay for those goods in instalments a little more than the normal price. 

In a letter dated 30 March 2020, Huzooraa gave the following reply to this question: 

“In your business dealings, if you tell the buyers beforehand that a certain item would cost that much if paid for in cash and if they paid for the same item in instalments then they would have to pay that much more then there is no issue with that. It does not fall into the category of interest. This is because in the latter case, you would have to keep a regular account of those who buy things in instalments and may even have to send them reminders to pay up their instalments, which will inevitably cost you time. In worldly dealings, time has a certain price. That is why it is for their time that employers receive large salaries.”

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