Selling silver riyals for paper riyals
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Q: What is the ruling on selling silver riyals for paper riyals in unequal amounts?
A: There is a problem with this issue, and some scholars of the present age have affirmed its permissibility; because paper is not silver. Others have stated its prohibition, because paper is a currency in common use among people and has been established in the place of silver, so it is included with it in the ruling. As for me, until the time of writing, my heart has not been reassured by either opinion, and I see that the most cautious course is to leave it alone, due to the saying of the Prophet (peace and blessings be upon him):Sunan an-Nasa'i 5711Sahih (Darussalam) and his saying (peace and blessings be upon him): Sunan Ibn Majah 3984Sahih (Darussalam) and his saying (peace and blessings be upon him): Jami` at-Tirmidhi 2389Sahih (Darussalam).
Therefore, the most cautious course in such a case is to sell the silver for another type, such as gold or something else, and then buy the paper with that. And if the one who has the paper wants the silver, he sells the paper for gold or something else, and then buys the desired silver with that.
A: There is a problem with this issue, and some scholars of the present age have affirmed its permissibility; because paper is not silver. Others have stated its prohibition, because paper is a currency in common use among people and has been established in the place of silver, so it is included with it in the ruling. As for me, until the time of writing, my heart has not been reassured by either opinion, and I see that the most cautious course is to leave it alone, due to the saying of the Prophet (peace and blessings be upon him):
Leave that which makes you doubt for that which does not make you doubt.
دع ما يريبك إلى ما لا يريبكhe who guards against the unclear matters, he clears himself with regard to his religion and his honor
من اتقى الشبهات استبرأ لدينه وعرضهRighteouness is good behaviour, and sin is what fluctuates in your chest, and you would hate that the people discovered it about you.
البر حسن الخلق، والإثم ما حاك في نفسك وكرهت أن يطلع عليه الناسTherefore, the most cautious course in such a case is to sell the silver for another type, such as gold or something else, and then buy the paper with that. And if the one who has the paper wants the silver, he sells the paper for gold or something else, and then buys the desired silver with that.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.