عربي
24 ربيع الأول 1441  ,  21 تشرين الثاني 2019

Fatawaa


Fatwa Number : 3215

Subject : Ruling on Buying Gold with Uncollected Checks

Classified : Transactions & Marketing

Fatwa Type : Search Fatawaa


Question :

What is the ruling of Sharia on buying gold with uncollected checks?


The Answer :

All perfect praise be to Allah, The Lord of the Worlds, and may His peace and blessings be upon our Prophet Mohammad and upon all his family and companions. The Law-Maker forbids selling gold or silver in return for uncollected checks as this is a form of Riba(Usury/interest) since this transaction isn`t done hand in hand in one session(i.e. in the same sale contract). Moreover, money and gold are forms of payment, which is the I`llah(Effective case) of Riba. In conclusion, it is forbidden to sell gold for uncollected checks except if the exchange is from hand to hand in one session. The Prophet(PBUH) said, "The selling of gold for gold is Riba (usury) except if the exchange is from hand to hand and equal in amount," {Agreed upon} ."Hand in hand" means it is forbidden to delay the payment of any. And Allah knows best.




Comments

 

Name *

E. mail Address *

Country

Comment Title *

Comment *

 
 

Warning: this window is not dedicated to receive religious questions, but to comment on topics published for the benefit of the site administrators—and not for publication. We are pleased to receive religious questions in the section "Send Your Question". So we apologize to readers for not answering any questions through this window of "Comments" for the sake of work organization. Thank you.