Borrowing gold and silver and returning their value in currency
Machine translationRead the Arabic original
Question:
He says: Honorable Shaykh, may Allah grant you success, is it permissible for me to borrow gold or silver from a person and return it in currency?
Answer:
This becomes a sale. If you take gold and silver and return it in currency, this is a currency exchange. This means it is an exchange, and it is not permissible. However, you may borrow it and return it as gold and silver; you return to him gold and silver, not its value in currency. If you return its value in currency, it becomes a deferred exchange, and this is riba (usury or interest). You buy for him silver or gold equal to what you borrowed from him and you take it from him. Yes.
The presenter:
May Allah grant you success,
He says: Honorable Shaykh, may Allah grant you success, is it permissible for me to borrow gold or silver from a person and return it in currency?
Answer:
This becomes a sale. If you take gold and silver and return it in currency, this is a currency exchange. This means it is an exchange, and it is not permissible. However, you may borrow it and return it as gold and silver; you return to him gold and silver, not its value in currency. If you return its value in currency, it becomes a deferred exchange, and this is riba (usury or interest). You buy for him silver or gold equal to what you borrowed from him and you take it from him. Yes.
The presenter:
May Allah grant you success,
Source
قناة «العلامة الدكتور صالح الفوزان»، 057 من 123 / شرح كتاب زاد المستقنع / البيع / السلم / صالح الفوزان / الفقه / كبار العلماء — youtube.com (1:15:41)
The Arabic text is a machine transcription of the audio recording.