Borrowing to buy gold with a delay in the price or part of it
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The second question of Fatwa No. ( 3211 )
Q2: A gold seller has relatives, friends, and customers. If one of them comes to him at any time and asks for a loan, he lends it to him, and he buys jewelry from him. The amount he has is reduced, and a balance remains on him. Is it permissible for the shop owner to proceed with the sale and record the balance on him
until he brings it, or what should he do? Knowing that the owner refuses to buy from others.
A2: It is not permissible; because of the riba al-nasi'ah (usury of deferment) involved in it, as explained in the answer to the first question. And your showing compassion to the buyer because he is your relative or your friend, for example, by allowing him to take a loan from you if he borrows from you, is not considered a justification for delaying the price or part of it, nor a permission for such a transaction.
Q2: A gold seller has relatives, friends, and customers. If one of them comes to him at any time and asks for a loan, he lends it to him, and he buys jewelry from him. The amount he has is reduced, and a balance remains on him. Is it permissible for the shop owner to proceed with the sale and record the balance on him
until he brings it, or what should he do? Knowing that the owner refuses to buy from others.
A2: It is not permissible; because of the riba al-nasi'ah (usury of deferment) involved in it, as explained in the answer to the first question. And your showing compassion to the buyer because he is your relative or your friend, for example, by allowing him to take a loan from you if he borrows from you, is not considered a justification for delaying the price or part of it, nor a permission for such a transaction.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.