Buying gold with the currencies minted in each country on an installment basis
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The second question of Fatwa No. ( 20790 )
Q2: Is it permissible to purchase gold with the currency minted in each country on an installment basis, like other ordinary goods, or is it necessary to take possession in the meeting without delay? What is the evidence for this, whether in the affirmative or negative, or regarding permissibility or prohibition, given that people buy their jewelry from the jeweler on an installment basis?
and there is no (take and give)?
A2: It is not permissible to sell gold for currencies, even if they are not of the same type, except on the condition of mutual possession in the meeting; because of the saying of the Prophet (peace and blessings be upon him) when he mentioned the types in which usury or interest enters, then he said:Sahih Muslim 1587c . And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q2: Is it permissible to purchase gold with the currency minted in each country on an installment basis, like other ordinary goods, or is it necessary to take possession in the meeting without delay? What is the evidence for this, whether in the affirmative or negative, or regarding permissibility or prohibition, given that people buy their jewelry from the jeweler on an installment basis?
and there is no (take and give)?
A2: It is not permissible to sell gold for currencies, even if they are not of the same type, except on the condition of mutual possession in the meeting; because of the saying of the Prophet (peace and blessings be upon him) when he mentioned the types in which usury or interest enters, then he said:
If these classes differ, then sell as you wish if payment is made hand to hand.
فإذا اختلفت هذه الأجناس فبيعوا كيف شئتم إذا كان يدًا بيد
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.