Down Deposits: Halal or Haram?
Bismillah. One of the types of transactions that’s very common today is a down-deposit transaction. This happens all the time with somewhat large purchases, like wedding cakes, or cars. Say your sister is getting married. You go to the bakery to locate a nice cake; passing by towers of icing, you locate one that doesn’t seem too unhealthy. “That one?” the shopkeeper says. “That one is $200. There’s a non-refundable deposit of $50 on it.