The Reality of Riba and Its Ruling
Machine translationRead the Arabic original
Question:
The last question in the listener's letter asks: What is riba (usury or interest)? Please explain it to us. May Allah reward you with good.
Answer:
Riba is a transaction between two categories without taking possession, or within the same category without equivalence and without taking possession. It is called riba if the two categories are from measured foodstuffs, or weighed foodstuffs, or from gold and silver, or from currencies that serve as a substitute for gold and silver. If one sells currency for currency of the same type but in a greater amount, this is riba. Or if one sells currency for currency of a different type but without immediate exchange, it is riba. Immediate hand-to-hand exchange is necessary. For example, a dollar for one hundred Saudi riyals hand-to-hand, or a dollar for an Iraqi dinar hand-to-hand, and so on.
Likewise, if one sells wheat for wheat of the same type hand-to-hand, this is not riba. But if one sells wheat for more wheat, it becomes riba. Or silver for more silver is riba, or gold for more gold is riba. However, if one sells silver for gold with immediate exchange, it is not riba in the assembly. Or if one sells wheat for barley with immediate exchange in the assembly, it is not riba.
So, the conclusion is that if it is one category, it must have two conditions:
Equivalence and immediate exchange in the assembly. Otherwise, it becomes riba.
As for when there are two categories, immediate exchange is necessary. Immediate exchange in the assembly is sufficient. For example: gold for barley, gold for silver, barley for dates, dates for salt, wheat, and the like.
The presenter : May Allah reward you with good.
The last question in the listener's letter asks: What is riba (usury or interest)? Please explain it to us. May Allah reward you with good.
Answer:
Riba is a transaction between two categories without taking possession, or within the same category without equivalence and without taking possession. It is called riba if the two categories are from measured foodstuffs, or weighed foodstuffs, or from gold and silver, or from currencies that serve as a substitute for gold and silver. If one sells currency for currency of the same type but in a greater amount, this is riba. Or if one sells currency for currency of a different type but without immediate exchange, it is riba. Immediate hand-to-hand exchange is necessary. For example, a dollar for one hundred Saudi riyals hand-to-hand, or a dollar for an Iraqi dinar hand-to-hand, and so on.
Likewise, if one sells wheat for wheat of the same type hand-to-hand, this is not riba. But if one sells wheat for more wheat, it becomes riba. Or silver for more silver is riba, or gold for more gold is riba. However, if one sells silver for gold with immediate exchange, it is not riba in the assembly. Or if one sells wheat for barley with immediate exchange in the assembly, it is not riba.
So, the conclusion is that if it is one category, it must have two conditions:
Equivalence and immediate exchange in the assembly. Otherwise, it becomes riba.
As for when there are two categories, immediate exchange is necessary. Immediate exchange in the assembly is sufficient. For example: gold for barley, gold for silver, barley for dates, dates for salt, wheat, and the like.
The presenter : May Allah reward you with good.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.