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Q:

Assalamualikum! I want to buy a mobile from a website. They are offering mobile on installments. But the question is if the mobile costs 10000 rupees they are asking for advance money which is 30 percent and the remaining amount is divided into 3 , 6 or 12 months. and they say that if you buy this mobile on installments we will take 2 percent premium(munafa) and this mobile will finally cost you 10200 or something like that. and they will not put fine if I pay late installments . Is this allowed in islam.? Thanks

A:

Alaykum Salaam,
This form of transaction is allowed.
 
Regards
Abbas Jaffer