You are asking about the ruling on buying gold on installment.
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The questioner : What is the ruling on buying gold on installment?
The Shaykh : Buying gold on installment falls into two categories. The first is that it is bought with currency, in which case the exchange of possession must take place in the session of the contract. So if a woman buys gold jewelry for five thousand riyals, she must hand over the five thousand riyals in the session of the contract, and it is not permissible for her to buy it on installment, because the Prophet (peace and blessings be upon him) said regarding the sale of gold for silver:Sahih Muslim 1587c.
The second is that the gold is bought with something other than currency, such as buying it with wheat. So the woman says: "I bought this jewelry from you for one hundred sa' of wheat, ten sa' every month." There is no harm in this, because the sale here took place between two things between which delay is not forbidden. So we say: if gold jewelry is sold for gold, two things are required: equality in weight and possession before parting. If it is sold for silver or currency, one thing is required: the exchange of possession before parting. If it is sold for anything else, there is no harm in selling it on installments and delaying the price. Yes.
The questioner : May Allah reward you and bless you. From the questions of the questioner, Umm Yasser, she says:
The Shaykh : Buying gold on installment falls into two categories. The first is that it is bought with currency, in which case the exchange of possession must take place in the session of the contract. So if a woman buys gold jewelry for five thousand riyals, she must hand over the five thousand riyals in the session of the contract, and it is not permissible for her to buy it on installment, because the Prophet (peace and blessings be upon him) said regarding the sale of gold for silver:
If these classes differ, then sell as you wish if payment is made hand to hand.
إذا اختلفت هذه الأصناف فبيعوا كيف شئتم إذا كان يداً بيدThe second is that the gold is bought with something other than currency, such as buying it with wheat. So the woman says: "I bought this jewelry from you for one hundred sa' of wheat, ten sa' every month." There is no harm in this, because the sale here took place between two things between which delay is not forbidden. So we say: if gold jewelry is sold for gold, two things are required: equality in weight and possession before parting. If it is sold for silver or currency, one thing is required: the exchange of possession before parting. If it is sold for anything else, there is no harm in selling it on installments and delaying the price. Yes.
The questioner : May Allah reward you and bless you. From the questions of the questioner, Umm Yasser, she says: