Definition of Tawarruq and the Conditions for Its Permissibility
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Question:
He asks about the sale of tawarruq, Honorable Shaykh, and what its nature is, and is it permissible in the Shari'ah?
Answer:
Tawarruq means that if a person in need does not find someone to lend him a benevolent loan, he buys a commodity for a deferred price from the one who owns it before the contract. You go to a person who has goods, and you buy goods from him for a deferred price, then you sell them to someone else, taking the price and benefiting from it. When the term arrives, you pay him the value of the commodity. This is permissible in the matter of tawarruq with two conditions: that the seller-lender owns the commodity before the contract with you, and the second condition is that you take possession of it and sell it to someone else. Yes.
He asks about the sale of tawarruq, Honorable Shaykh, and what its nature is, and is it permissible in the Shari'ah?
Answer:
Tawarruq means that if a person in need does not find someone to lend him a benevolent loan, he buys a commodity for a deferred price from the one who owns it before the contract. You go to a person who has goods, and you buy goods from him for a deferred price, then you sell them to someone else, taking the price and benefiting from it. When the term arrives, you pay him the value of the commodity. This is permissible in the matter of tawarruq with two conditions: that the seller-lender owns the commodity before the contract with you, and the second condition is that you take possession of it and sell it to someone else. Yes.
Source
نور على الدرب - الفوزان - 02/279 — archive.org (15:54)
The Arabic text is a machine transcription of the audio recording.