What is the ruling on selling what one does not own?
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The Shaykh : My brother, after all the discussion, has there not been a consensus, an agreement, that the bank sells something it does not own? What is the bank's answer to facilitate this transaction and bring it within the scope of lawful sales?
The questioner : They do not enter into discussions about the sale and the taking of possession, nor do they address this issue.
Another questioner : They did not address this, nor did they mention this hadith.
Another questioner : And they did not hear of this hadith at all.
The Shaykh: It is not credible.
The questioner : They heard of it. In the Committee for Fatwas, there are seven shaykhs. If you read the law, do they not know what is in it? How could they not have heard of it?
The Shaykh : No, I am saying it is not possible that they did not hear of it, but rather that they worked around it and circumvented it. So we want to hear what it is, because surely there is something there of figurative interpretation. So what is this figurative interpretation?
The questioner : They did not touch upon this issue.
Another questioner : The Committee for Fatwas overlooked this point.
The questioner : They did not touch upon the issue at all; they overlooked this point, meaning they based all their sales on the issue of...
The Shaykh : Some banks in Kuwait have resolved this problem; they brought in cars.
The questioner : They are now importing; they imported once and twice, and in the years they imported, they lost money and did not distribute profits. Let me be clear from the beginning: the point is that they stopped importing...
The Shaykh : No, that is a separate study. Whether they lost or made a profit has nothing to do with it.
Another questioner : Disavow your past. We are not concerned with it—the brothers laugh—but what we say is that this work must be in accordance with the saying of the Prophet (peace and blessings be upon him):Sunan Ibn Majah 2187Hasan (Darussalam).
The Shaykh : Come on, Abu Layla. Glory be to You, O Allah, and praise be to You. I bear witness that there is no god but You. I seek Your forgiveness and turn to You in repentance.
Another questioner : I point out that if you look into transactions such as guarantees and the forms that always take a fixed commission, a guarantee for one thousand dinars in exchange for...
The questioner : That is a separate study.
Another questioner : Are these the points that occur most frequently and have more room for research?
Another questioner : And likewise insurance, my teacher. We have a complete study on the issue where we reviewed all the defects in this chapter. The insurance in which the Islamic bank is involved, as well as currency exchange, also falls under this.
The Shaykh: We seek help from Allah, we seek help from Allah.
The questioner : They do not enter into discussions about the sale and the taking of possession, nor do they address this issue.
Another questioner : They did not address this, nor did they mention this hadith.
Another questioner : And they did not hear of this hadith at all.
The Shaykh: It is not credible.
The questioner : They heard of it. In the Committee for Fatwas, there are seven shaykhs. If you read the law, do they not know what is in it? How could they not have heard of it?
The Shaykh : No, I am saying it is not possible that they did not hear of it, but rather that they worked around it and circumvented it. So we want to hear what it is, because surely there is something there of figurative interpretation. So what is this figurative interpretation?
The questioner : They did not touch upon this issue.
Another questioner : The Committee for Fatwas overlooked this point.
The questioner : They did not touch upon the issue at all; they overlooked this point, meaning they based all their sales on the issue of...
The Shaykh : Some banks in Kuwait have resolved this problem; they brought in cars.
The questioner : They are now importing; they imported once and twice, and in the years they imported, they lost money and did not distribute profits. Let me be clear from the beginning: the point is that they stopped importing...
The Shaykh : No, that is a separate study. Whether they lost or made a profit has nothing to do with it.
Another questioner : Disavow your past. We are not concerned with it—the brothers laugh—but what we say is that this work must be in accordance with the saying of the Prophet (peace and blessings be upon him):
Do not sell what is not with you.
لا تبع ما ليس عندكThe Shaykh : Come on, Abu Layla. Glory be to You, O Allah, and praise be to You. I bear witness that there is no god but You. I seek Your forgiveness and turn to You in repentance.
Another questioner : I point out that if you look into transactions such as guarantees and the forms that always take a fixed commission, a guarantee for one thousand dinars in exchange for...
The questioner : That is a separate study.
Another questioner : Are these the points that occur most frequently and have more room for research?
Another questioner : And likewise insurance, my teacher. We have a complete study on the issue where we reviewed all the defects in this chapter. The insurance in which the Islamic bank is involved, as well as currency exchange, also falls under this.
The Shaykh: We seek help from Allah, we seek help from Allah.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.