What is the ruling on buying a car for work by installments through the bank with interest, and what is the difference between this and selling by installments with interest, which is halal according to Sharia, and what is the legitimate method for selling with deferred payment?

There are two permissible scenarios for installment sales: 1. The commodity (car) must be owned by the seller (the bank) and be in its possession. The buyer then purchases it from the bank at a known price that is not subject to increase, with an agreement on the method of installment payment. 2. The buyer requests the bank to purchase the commodity from a third party, with the bank promising to purchase it from him. Once the bank purchases and takes possession of it, and it becomes under its guarantee, the buyer purchases it from the bank at a price known to both parties (even if it is higher than the original price), provided that the price is not subject to increase if payment is delayed.

The fundamental differences between the permissible scenario and the prohibited scenarios lie in two matters: 1. In the permissible scenario, it is stipulated that the commodity must be owned by the bank, in its possession, and under its guarantee. 2. The price in the permissible scenario must be known at the time of the contract and not subject to increase, even if payment is delayed. This is unlike what happens in usurious banks, where interest increases with delayed payment.