The Difference Between Riba of the Pre-Islamic Age and Riba in Our Time
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Question:
He says: I read that there is a type of riba (usury or interest) called the riba of the pre-Islamic age. What is the difference between it and the riba of our time? And are there examples of it?
Answer:
Riba is of two types: riba al-fadl (usury of excess in a like-for-like exchange), which is selling a type for its own type, sharing the same operative cause for which riba was forbidden, such as selling dates for dates in unequal amounts, selling wheat for wheat in unequal amounts, or selling barley for barley in unequal amounts.
These are the six categories for which evidence has come, along with other things that share their operative cause, which is the cause of being measured or weighed, and being stored. This is riba al-fadl. If some of it is sold for some of it, equality is required, and immediate exchange in the meeting is also required. The second type is riba al-nasi'ah (usury of deferment), which is selling a thing for a different type, such as selling dates for wheat, or dates for barley, or wheat for dates, or wheat for barley. If it is sold for a different type, inequality is permissible, but riba al-nasi'ah is forbidden, which is deferring the payment. The Messenger (peace and blessings be upon him) said: "If these types differ, sell however you wish," meaning in unequal or equal amounts, sell however you wish, but on the condition that it is hand-to-hand, meaning immediate exchange in the meeting. Yes.
The presenter:
May Allah reward you.
He says: I read that there is a type of riba (usury or interest) called the riba of the pre-Islamic age. What is the difference between it and the riba of our time? And are there examples of it?
Answer:
Riba is of two types: riba al-fadl (usury of excess in a like-for-like exchange), which is selling a type for its own type, sharing the same operative cause for which riba was forbidden, such as selling dates for dates in unequal amounts, selling wheat for wheat in unequal amounts, or selling barley for barley in unequal amounts.
These are the six categories for which evidence has come, along with other things that share their operative cause, which is the cause of being measured or weighed, and being stored. This is riba al-fadl. If some of it is sold for some of it, equality is required, and immediate exchange in the meeting is also required. The second type is riba al-nasi'ah (usury of deferment), which is selling a thing for a different type, such as selling dates for wheat, or dates for barley, or wheat for dates, or wheat for barley. If it is sold for a different type, inequality is permissible, but riba al-nasi'ah is forbidden, which is deferring the payment. The Messenger (peace and blessings be upon him) said: "If these types differ, sell however you wish," meaning in unequal or equal amounts, sell however you wish, but on the condition that it is hand-to-hand, meaning immediate exchange in the meeting. Yes.
The presenter:
May Allah reward you.
Source
نور على الدرب - الفوزان - 03/012 — archive.org (8:19)
The Arabic text is a machine transcription of the audio recording.