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KHAIRUN NASUHA BINTI MOHAMAD TAHIR. Icon Description automatically generated.
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WHAT IS SHOPEE PAY LATER?. Shopee now allows Malaysian customers to buy now and pay later. The Shopee app, called SPayLater , allows users to postpone payments for up to six months..
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SHARIAH STATUS REGARDING THE SHOPEE PAY LATER. 1,134 Shariah Stock Photos, Pictures & Royalty-Free Images - iStock.
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10joqd OHd#. As a consequence, Muslims are forbidden to engage in any transaction that involves riba , as riba is haram and a major sin..
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SHARIAH STATUS REGARDING THE SHOPEE PAY LATER. The SPayLater system involves debt. Shopee-appointed SeaMoney party will pay the Shopee seller first on behalf of the buyer, and then the customer must pay SeaMoney in installments or one-time within a month. As a result, customers who use this SPayLater service are considered indebted to SeaMoney.
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In Islamic finance, interest is referred to as Riba . Also called usury or charging high interest rates. Most Islamic jurists describe riba as the simultaneous exchange of goods of differing quantities or quality..
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Riba is forbidden in Islam, and those who engage in it commit a major sin. This is explained by Allah SWT's following words: وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبَا Meaning: Allah has permitted trading (business) while forbidding usury. Surah al-Baqarah (275).
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Processing Fee.
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PROCESSING FEE. Mufti WP Memberi Pencerahan Berkenaan Hukum Penggunaan Shopee Pay Later – Rnggt.
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Late Payment Fee.
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LATE PAYMENT FEE. Customers who do not pay within the specified time period may be charged a late payment fee. As previously stated, any debt accompanied by additional payments due to payment delays is classified as Riba al- Qard ..
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Mechanism Penalty Tawidh Gharamah Concept Charge for the late payment Creditors bear losses due to late payment Penalty to avoid late payment Rate of charge Based on the rate by Bank Negara Malaysia (BNM). Compounding The outstanding balance is the total principal plus the penalty. Based on actual loss. Fixed at 1% Based on the outstanding principal balance Based on the rate by BNM Non-compounding Based on the outstanding principal balance Uses of proceeds Income to bank/company Payment to bank/company Channel to charity Ruling ( hukm ) Non-shariah compliant, HARAM because it is involved riba . Recommended as Shariah-compliant. Recommended as Shariah-compliant..
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After conducting a study on Shopee's installment payment mechanism, SPayLater , we discovered that Shopee's installment payment system raises several shariah concerns. Processing fees and late payment penalties contain an element of usury. There is no concern regarding the one-time payment method within a month, but al- Qard usury will apply for late payments..
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THAT’S ALL FROM ME Thank you !. Shopee.