Sale with immediate repurchase
(عِينَةٌ)
من موسوعة المصطلحات الإسلامية
المعنى الاصطلاحي
Sale of a commodity on credit and then repurchasing it for a lesser amount in cash (before receiving the credit payment).
الشرح المختصر
"‘Eenah" (sale with immediate repurchase) is a form of interest and a ruse to obtain unlawful money. The most popular form of "‘eenah" is to sell something on credit and deliver it to the buyer, and then to buy it back in cash for a lower price before receiving the deferred amount. In actuality, "‘eenah" is a loan whereby an extra amount is taken in exchange for deferment. For example, someone sells a car for five thousand dollars on a month's credit and delivers the car to the buyer, then he immediately buys it back from him for four thousand dollars in cash and delivers that amount to him. The buyer now owes the original seller five thousand dollars. So it is as if the original seller gave a loan of four thousand dollars in cash to the buyer in return for taking back five thousand in deferred payment.
التعريف اللغوي المختصر
"‘Eenah": borrowing, contracting a loan. It refers to buying or selling on credit. Derived from "‘ayn", which means cash; or from "i‘ānah", which means helping or aiding.