Selling gold and buying something else in the same contract session
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Fatwa number ( 8865 )
Q: I went to the market in Jeddah , the gold market, and I had some gold with me. I wanted to exchange it for new gold, so I gave it to the shop owner and said, "I want to exchange it." He took it, weighed it, and gave me some types. I took a type to exchange weight for weight, but it became clear to me that this man deducts three ariya from each gram of my gold in exchange for its use. My gold weighed 170 grams, and his gold weighed approximately 156 grams. The difference is one hundred riyals, which I pay. When I saw the matter was like this, I said to him, "This is not permissible, and this is riba." But I wanted to sell it to you and buy this gold which weighs 156. He took my gold for a sum of 5,000 riyals, and I took his gold for a sum of 5,100 riyals, and its weight is 156 grams, less than my gold. But the man smiled at my action and said, "Like the man they say: 'Where is your ear?' Instead of coming with his hand from the front, he came with it from the back." He said, "The whole market does the same; they take three riyals per gram and exchange, claiming that it is the 'right of craftsmanship.' 1- Is my action valid in the sale and purchase, or not?
2- Is his action of taking a weight greater than the weight of his gold riba? He says: No. 3- It seems to me that if I do not buy from him, he will return my gold. What is the ruling if he does that?
A: If the situation is as described: 1- Your action in selling your gold to him for silver, and buying his gold for silver, is valid and contains no riba, provided that the possession is completed in the contract session.
Q: I went to the market in Jeddah , the gold market, and I had some gold with me. I wanted to exchange it for new gold, so I gave it to the shop owner and said, "I want to exchange it." He took it, weighed it, and gave me some types. I took a type to exchange weight for weight, but it became clear to me that this man deducts three ariya from each gram of my gold in exchange for its use. My gold weighed 170 grams, and his gold weighed approximately 156 grams. The difference is one hundred riyals, which I pay. When I saw the matter was like this, I said to him, "This is not permissible, and this is riba." But I wanted to sell it to you and buy this gold which weighs 156. He took my gold for a sum of 5,000 riyals, and I took his gold for a sum of 5,100 riyals, and its weight is 156 grams, less than my gold. But the man smiled at my action and said, "Like the man they say: 'Where is your ear?' Instead of coming with his hand from the front, he came with it from the back." He said, "The whole market does the same; they take three riyals per gram and exchange, claiming that it is the 'right of craftsmanship.' 1- Is my action valid in the sale and purchase, or not?
2- Is his action of taking a weight greater than the weight of his gold riba? He says: No. 3- It seems to me that if I do not buy from him, he will return my gold. What is the ruling if he does that?
A: If the situation is as described: 1- Your action in selling your gold to him for silver, and buying his gold for silver, is valid and contains no riba, provided that the possession is completed in the contract session.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.