Keeping the value of gold with the buyer as a trust after its sale
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The first, second, third, fourth, and sixth questions of Fatwa No. ( 3931 )
Q1: When we buy old gold from a customer, he strongly refuses to receive the payment, saying: "Leave it with you as a trust, and when I buy the new gold from you, I will deduct the amount you are owed and give me the remaining balance." Is it permissible for us to keep the amount, which is the value of the old gold,
and after his owner buys the new gold, we give him the remainder or take from him if anything is left for us?
A1: If the situation is as described, then this practice is not permissible; because the condition for the permissibility of selling gold for silver, or for currencies that have been given the ruling of silver, is that the exchange must be hand-to-hand.
Q1: When we buy old gold from a customer, he strongly refuses to receive the payment, saying: "Leave it with you as a trust, and when I buy the new gold from you, I will deduct the amount you are owed and give me the remaining balance." Is it permissible for us to keep the amount, which is the value of the old gold,
and after his owner buys the new gold, we give him the remainder or take from him if anything is left for us?
A1: If the situation is as described, then this practice is not permissible; because the condition for the permissibility of selling gold for silver, or for currencies that have been given the ruling of silver, is that the exchange must be hand-to-hand.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.