Conditions for selling ribawi items for their like
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Question:
I ask for an explanation of this phrase: "The condition of immediate exchange in the sale of two differing ribawi items before the parties separate." Is this condition to avoid falling into riba al-nasi'ah (usury of deferment), or is it a forbidden condition? Please advise us, may Allah reward you.
Answer:
The Messenger of Allah (peace and blessings be upon him) clarified this. Riba al-fadl (usury of excess) is forbidden, absolutely, in the case of riba al-fadl. And in the case of riba al-nasi'ah, if one sells a type of item for another type of the same kind in differing amounts, it becomes forbidden by this. And if it is made on a deferred basis, and it is of the same kind, then the two meanings coincide in it: riba al-fadl and riba al-nasi'ah.
So the condition for selling a type of item for its own type is hand-to-hand exchange if it is a type for a type of the same kind; it must be hand-to-hand. And if it is of a different kind in differing amounts, it must be hand-to-hand. This is a condition for permissibility and lawfulness.
A type of item is not sold for a different type with which it shares the description in the operative cause except with the condition of immediate exchange. So if one sells gold for silver, immediate exchange hand-to-hand is required. Or if one sells dates for barley, hand-to-hand is required. Otherwise, it is forbidden, because it becomes subject to the ruling of deferment. And the greatest of riba is riba al-nasi'ah. So if they do not exchange immediately, it is equated with riba al-nasi'ah, and thus it is forbidden.
So Allah (Exalted and Majestic is He) has forbidden deferment. If they do not exchange immediately, it is equated with deferment, and it is a means to deferment. For this reason, Allah (Exalted and Majestic is He) has forbidden separating before the exchange takes place. It is not permissible to sell a ribawi item for a ribawi item of the same kind, or of a different kind in differing amounts, except hand-to-hand. Whether it is of the same kind, such as gold for gold, silver for silver, or dates for dates, it must be hand-to-hand with the condition of equality and similarity. And if it is of a different kind, such as dates for barley, dates for salt, or gold and silver, then differing amounts are permissible, but hand-to-hand exchange is required so that it does not become equated with riba.
I ask for an explanation of this phrase: "The condition of immediate exchange in the sale of two differing ribawi items before the parties separate." Is this condition to avoid falling into riba al-nasi'ah (usury of deferment), or is it a forbidden condition? Please advise us, may Allah reward you.
Answer:
The Messenger of Allah (peace and blessings be upon him) clarified this. Riba al-fadl (usury of excess) is forbidden, absolutely, in the case of riba al-fadl. And in the case of riba al-nasi'ah, if one sells a type of item for another type of the same kind in differing amounts, it becomes forbidden by this. And if it is made on a deferred basis, and it is of the same kind, then the two meanings coincide in it: riba al-fadl and riba al-nasi'ah.
So the condition for selling a type of item for its own type is hand-to-hand exchange if it is a type for a type of the same kind; it must be hand-to-hand. And if it is of a different kind in differing amounts, it must be hand-to-hand. This is a condition for permissibility and lawfulness.
A type of item is not sold for a different type with which it shares the description in the operative cause except with the condition of immediate exchange. So if one sells gold for silver, immediate exchange hand-to-hand is required. Or if one sells dates for barley, hand-to-hand is required. Otherwise, it is forbidden, because it becomes subject to the ruling of deferment. And the greatest of riba is riba al-nasi'ah. So if they do not exchange immediately, it is equated with riba al-nasi'ah, and thus it is forbidden.
So Allah (Exalted and Majestic is He) has forbidden deferment. If they do not exchange immediately, it is equated with deferment, and it is a means to deferment. For this reason, Allah (Exalted and Majestic is He) has forbidden separating before the exchange takes place. It is not permissible to sell a ribawi item for a ribawi item of the same kind, or of a different kind in differing amounts, except hand-to-hand. Whether it is of the same kind, such as gold for gold, silver for silver, or dates for dates, it must be hand-to-hand with the condition of equality and similarity. And if it is of a different kind, such as dates for barley, dates for salt, or gold and silver, then differing amounts are permissible, but hand-to-hand exchange is required so that it does not become equated with riba.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.