The Ruling on Deferring the Payment of the Price of Gold

The questioner : Yes. My husband bought gold, and after the invoice was written and he came to settle the account with the shop owner, he found that the money he had with him was not sufficient. So he left the gold and the money he had with him, and told him, “In two or three days, I will pay you the remaining amount.” Is this transaction valid?

The Shaykh : No, it is not valid. It contains riba (usury or interest). If a person buys gold, he must pay the full price in one go.

The questioner : He left him the gold and the money he had with him.

The Shaykh : Did he leave the gold? Yes, yes.

The questioner : He left the gold and the money he had with him, and told him, “In two or three days, I will pay you the remaining amount,” and he took the gold.

The Shaykh : Well, if he goes back a second time, he must conclude a new contract.

The questioner : Meaning, he settles the account on the same day for the price of the gold.

The Shaykh : So that he buys it at that day’s price. I say that if he goes back a second time to the man, the shop owner, he should agree with him on a new contract.

The questioner : Meaning, he settles the account with him anew and writes a second invoice.

The Shaykh : Yes, with a second invoice.