Are 0% "Interest-Free" EMI Loan Schemes Really Halal?

Описание: With the proliferation of so-called Zero Percent EMI loan schemes both in online and offline shopping such as those offered by the likes of Bajaj Finserv, Home Credit, Paytm, etc, many Muslims are led to believe that these offers/schemes are Halal as they have "0%" interest in them and such they only have to repay back the principal amount in monthly EMIs. However, the truth is very different and in this short video we mention why Muslims should stay away from such schemes because they have riba or interest built into them just like any other form of interest-based finance.

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