The Meaning of Selling a Debt for a Debt
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Question:
What is the meaning of selling a debt for a debt? And if I buy a commodity on credit and sell it on credit before paying its price, is this sale valid?
Answer:
Selling a debt for a debt is: selling a debt for a debt. The hadith on this matter is weak, as al-Hafiz Ibn Hajar (may Allah have mercy on him) clarified in *Bulugh al-Maram*. However, its meaning is correct, as the scholar Ibn al-Qayyim (may Allah have mercy on him) clarified in his book *I'lam al-Muwaqqin*, and as other scholars have mentioned.
The description of this is: that a person has a debt—for example, with Zayd—and he sells it to another person on credit, or sells it to the one who owes it on credit; because of the excessive uncertainty (gharar) and the lack of mutual possession in that.
But if the item sold and the price are from the items of usury (riba), it is permissible to take one of the two exchanges for the other, on the condition of mutual possession in the meeting place, and similarity if they are of the same type. As for if they are of two different types, difference in amount is permissible, on the condition of mutual possession in the meeting place; because it is established from the Prophet (peace and blessings be upon him) that some of the Companions asked him, saying: O Messenger of Allah, we sell for dirhams and take dinars for them, and we sell for dinars and take dirhams for them. The Prophet (peace and blessings be upon him) said:Sunan Abi Dawud 3354Da'if (Al-Albani). It was narrated by Imam Ahmad, al-Tirmidhi, Ibn Majah, Abu Dawud, and al-Nasa'i, with a sound chain from Ibn 'Umar (may Allah be pleased with them both), and al-Hakim graded it as authentic, and there are other evidences on this topic.
As for if a person buys a commodity with a deferred price and then sells it to another, after taking possession of it, for a deferred or immediate price, there is no harm in that; due to the generality of the saying of Allah the Exalted: [al-Baqarah: 275] and His saying (peace and blessings be upon him) : [Al-Baqarah 2:282] the verse [al-Baqarah: 282].
But it is not permissible to sell the commodity that he bought on credit to the one who bought it from him for less cash; because by doing so, it becomes one of the forms of 'inah (buy-back sale), and one of the means of usury (riba). And success is from Allah.
What is the meaning of selling a debt for a debt? And if I buy a commodity on credit and sell it on credit before paying its price, is this sale valid?
Answer:
Selling a debt for a debt is: selling a debt for a debt. The hadith on this matter is weak, as al-Hafiz Ibn Hajar (may Allah have mercy on him) clarified in *Bulugh al-Maram*. However, its meaning is correct, as the scholar Ibn al-Qayyim (may Allah have mercy on him) clarified in his book *I'lam al-Muwaqqin*, and as other scholars have mentioned.
The description of this is: that a person has a debt—for example, with Zayd—and he sells it to another person on credit, or sells it to the one who owes it on credit; because of the excessive uncertainty (gharar) and the lack of mutual possession in that.
But if the item sold and the price are from the items of usury (riba), it is permissible to take one of the two exchanges for the other, on the condition of mutual possession in the meeting place, and similarity if they are of the same type. As for if they are of two different types, difference in amount is permissible, on the condition of mutual possession in the meeting place; because it is established from the Prophet (peace and blessings be upon him) that some of the Companions asked him, saying: O Messenger of Allah, we sell for dirhams and take dinars for them, and we sell for dinars and take dirhams for them. The Prophet (peace and blessings be upon him) said:
There is no harm in taking them at the current rate so long as you do not separate leaving something to be settled.
لا بأس أن تأخذها بسعر يومها ما لم تفترقا وبينكما شيءAs for if a person buys a commodity with a deferred price and then sells it to another, after taking possession of it, for a deferred or immediate price, there is no harm in that; due to the generality of the saying of Allah the Exalted:
But Allah has permitted trade and has forbidden interest
وَأَحَلَّ اللّهُ الْبَيْعَ وَحَرَّمَ الرِّبَاO you who have believed, when you contract a debt for a specified term, write it down.
يَا أَيُّهَا الَّذِينَ آمَنُواْ إِذَا تَدَايَنتُم بِدَيْنٍ إِلَى أَجَلٍ مُّسَمًّى فَاكْتُبُوهُBut it is not permissible to sell the commodity that he bought on credit to the one who bought it from him for less cash; because by doing so, it becomes one of the forms of 'inah (buy-back sale), and one of the means of usury (riba). And success is from Allah.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.