The ruling on pledging gold in exchange for money
Machine translationRead the Arabic original
Question:
He says: Honorable Shaykh, may Allah grant you success, is it permissible to pledge gold in exchange for money?
Answer:
Yes, there is nothing wrong with it. This is not a sale; it is a pledge, a form of security. It is merely a security arrangement. When the due date arrives, he either repays the debt, or the amount needed to settle his debt is taken from the gold. Yes.
He says: Honorable Shaykh, may Allah grant you success, is it permissible to pledge gold in exchange for money?
Answer:
Yes, there is nothing wrong with it. This is not a sale; it is a pledge, a form of security. It is merely a security arrangement. When the due date arrives, he either repays the debt, or the amount needed to settle his debt is taken from the gold. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، [748 -1024] حكم رهن الذهب مقابل المال - الشيخ صالح الفوزان — youtube.com
The Arabic text is a machine transcription of the audio recording.