Borrowing gold and silver and repaying them in currency
Machine translationRead the Arabic original
The questioner:
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?
The Shaykh:
Is it permissible for me?
The questioner:
If I borrow gold or silver from a person and repay it in currency?
The Shaykh:
This is not a loan; this has become a sale. If you take gold and silver and repay 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 repay it in gold and silver; you return to him gold and silver, not the value of it in currency. If you return the value in currency, it becomes a deferred exchange, and this is riba (usury or interest). But you may buy him silver or gold equal to what you borrowed from him and deliver it to him. Yes.
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?
The Shaykh:
Is it permissible for me?
The questioner:
If I borrow gold or silver from a person and repay it in currency?
The Shaykh:
This is not a loan; this has become a sale. If you take gold and silver and repay 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 repay it in gold and silver; you return to him gold and silver, not the value of it in currency. If you return the value in currency, it becomes a deferred exchange, and this is riba (usury or interest). But you may buy him silver or gold equal to what you borrowed from him and deliver it to him. Yes.
Source
الفوزان -أشرطة- شرح زاد المستقنع مع الأسئلة - 053-السلم والرهن والقرض - 9-8-23 هـ — archive.org (1:22:59)
The Arabic text is a machine transcription of the audio recording.