The Ruling on Buying Diamonds on Installment
Machine translationRead the Arabic original
The questioner:
He says: Honorable Shaykh, may Allah grant you success, who bears the loss when buying diamonds?
The Shaykh:
Each person bears the loss to the extent of his capital, yes.
The questioner:
He says: Honorable Shaykh, may Allah grant you success, if a person buys diamonds and pays the price in installments, and after the amount is paid, the diamonds are sent to him, is this sale valid?
The Shaykh:
There is nothing wrong with it, because what is forbidden is selling gold and silver for a deferred price, because it is like exchanging dirhams for dirhams on credit. Selling gold and silver for deferred dirhams is prohibited. However, if he sells something other than gold and silver, such as diamonds, which are neither gold nor silver, it is permissible to sell them for an immediate or a deferred price, yes.
He says: Honorable Shaykh, may Allah grant you success, who bears the loss when buying diamonds?
The Shaykh:
Each person bears the loss to the extent of his capital, yes.
The questioner:
He says: Honorable Shaykh, may Allah grant you success, if a person buys diamonds and pays the price in installments, and after the amount is paid, the diamonds are sent to him, is this sale valid?
The Shaykh:
There is nothing wrong with it, because what is forbidden is selling gold and silver for a deferred price, because it is like exchanging dirhams for dirhams on credit. Selling gold and silver for deferred dirhams is prohibited. However, if he sells something other than gold and silver, such as diamonds, which are neither gold nor silver, it is permissible to sell them for an immediate or a deferred price, yes.
Source
شرح زاد المستقنع [53] — alfawzan.live (1:27:24)
The Arabic text is a machine transcription of the audio recording.