What is the ruling on buying gold and leaving part of the price to be paid after a period of time?
Machine translationRead the Arabic original
Question:
The questioner says: I bought a gold necklace for five thousand pounds, so I paid the merchant four thousand and told him, "You have one thousand left after a week." Is this permissible?
Answer:
This is not permissible. It is not permissible to sell gold for deferred dirhams. It is obligatory to exchange possession in the assembly. You receive the gold and you hand over its value in dirhams, and you do not leave the assembly with any part of the value remaining on you. This is riba (usury or interest). This is riba al-nasi'ah (usury of deferment), which is forbidden. The Prophet (peace and blessings be upon him) said: "Hand to hand, equal for equal, like for like." It is not permissible to separate while there is a remainder of the value between you.
The questioner says: I bought a gold necklace for five thousand pounds, so I paid the merchant four thousand and told him, "You have one thousand left after a week." Is this permissible?
Answer:
This is not permissible. It is not permissible to sell gold for deferred dirhams. It is obligatory to exchange possession in the assembly. You receive the gold and you hand over its value in dirhams, and you do not leave the assembly with any part of the value remaining on you. This is riba (usury or interest). This is riba al-nasi'ah (usury of deferment), which is forbidden. The Prophet (peace and blessings be upon him) said: "Hand to hand, equal for equal, like for like." It is not permissible to separate while there is a remainder of the value between you.
Source
قناة «العلامة الدكتور صالح الفوزان»، ما حكم شراء الذهب وإبقاء جزء من المبلغ يدفعه بعد فترة؟ للشيخ الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.