Is it permissible to purchase gold using the Saudi instant payment network card?
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The questioner : He says:The questioner : O esteemed Shaykh, is it permissible to purchase gold using the Saudi instant payment network card?
The Shaykh : When gold is sold for paper currency, the exchange of possession must take place before the parties separate. So the buyer should spend this paper and bring the coins to settle the matter, or the gold seller should contact the bank and say, "So-and-so, deduct such and such from my account, meaning the price of the gold, and put it in So-and-so's account." If the bank says, "Done," meaning the bank has processed it, then that is permissible, because the seller has now received payment; the value of the gold has been credited to his account, and this constitutes receipt. Yes.
The questioner : Shall we move on, Shaykh?
The Shaykh : Huh?
The questioner : Shall we continue with sales, Shaykh?
The Shaykh : With sales, or...
The questioner : ... .
The Shaykh : It is all the same; it is all based on interest.
The questioner : He says:The questioner : What is the difference between insurance and guarantee, and does insurance fall under the types of sales?
The Shaykh : One must explain insurance. What is insurance? What is insurance? Where...The questioner : Cancel the question.
The Shaykh : When gold is sold for paper currency, the exchange of possession must take place before the parties separate. So the buyer should spend this paper and bring the coins to settle the matter, or the gold seller should contact the bank and say, "So-and-so, deduct such and such from my account, meaning the price of the gold, and put it in So-and-so's account." If the bank says, "Done," meaning the bank has processed it, then that is permissible, because the seller has now received payment; the value of the gold has been credited to his account, and this constitutes receipt. Yes.
The questioner : Shall we move on, Shaykh?
The Shaykh : Huh?
The questioner : Shall we continue with sales, Shaykh?
The Shaykh : With sales, or...
The questioner : ... .
The Shaykh : It is all the same; it is all based on interest.
The questioner : He says:The questioner : What is the difference between insurance and guarantee, and does insurance fall under the types of sales?
The Shaykh : One must explain insurance. What is insurance? What is insurance? Where...The questioner : Cancel the question.