The Consumer Credit Scheme
Q. It is becoming common for Muslim retail businessmen in South Africa to enter into the so-called consumer credit scheme. The retailer concerned concludes a written agreement with a third party Company (“the Company”). A copy of the Specimen agreement is enclosed herewith. In terms of the Scheme:
a) The customer wishes to purchase such goods on credit over 6 months;
b) The customer is informed that the company may sell him such goods on credit and, for that purpose, the customer fills in a prescribed application containing details relating to his credit-worthiness;