The Condition of Mutual Possession in the Sale of Gold
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The second question of Fatwa No. ( 1599 )
Q2: If a person sells gold jewelry to another, and the buyer does not have part of the price or the full price, nor after a few days, a month, or two months, is this permissible or not?
A2 : If the price paid for the gold jewelry is gold, silver, or paper currency or its instruments that serve as their equivalent, it is not permissible; rather, it is forbidden; because it contains riba al-nasi'ah (usury of deferment). However, if the purchase is made with goods such as cloth, food, or the like, it is permissible to defer the price. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q2: If a person sells gold jewelry to another, and the buyer does not have part of the price or the full price, nor after a few days, a month, or two months, is this permissible or not?
A2 : If the price paid for the gold jewelry is gold, silver, or paper currency or its instruments that serve as their equivalent, it is not permissible; rather, it is forbidden; because it contains riba al-nasi'ah (usury of deferment). However, if the purchase is made with goods such as cloth, food, or the like, it is permissible to defer the price. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.