The Ruling on Tawarruq Sales
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Question:
This questioner, a resident of Riyadh from Egypt, asks about tawarruq sales: are they permissible? What is an example of them, and what is the correct position on them?
Answer:
There is scholarly disagreement regarding tawarruq sales. Some scholars forbid them, saying that it is a means to riba (usury or interest). Others permit it in cases of pressing need, and they are the majority. However, it must meet certain conditions. First, the commodity must be in the ownership of the seller-lender before he sells it to the borrower. Second, the borrower must take possession of it completely, moving it from the lender’s location, and then sell it to someone else. These conditions are acceptable due to pressing need. Yes.
This questioner, a resident of Riyadh from Egypt, asks about tawarruq sales: are they permissible? What is an example of them, and what is the correct position on them?
Answer:
There is scholarly disagreement regarding tawarruq sales. Some scholars forbid them, saying that it is a means to riba (usury or interest). Others permit it in cases of pressing need, and they are the majority. However, it must meet certain conditions. First, the commodity must be in the ownership of the seller-lender before he sells it to the borrower. Second, the borrower must take possession of it completely, moving it from the lender’s location, and then sell it to someone else. These conditions are acceptable due to pressing need. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، 2585 - حكم بيع التورق - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.