Ruling on Buying Gold with Checks
Machine translationRead the Arabic original
Question:
Is it permissible to buy gold with checks, or is it not?
Answer:
This requires consideration, and the closest view—may Allah know best—is that receiving the check is receiving the payment, if he gives him a check for the value; it is receiving the payment. However, taking the money in hand is more preferable and safer. If the gold is delivered to him and he is given dollars, dirhams, or another currency, this is the only way to be safe. As for if he is given a check from such-and-such a bank or such-and-such a shop, it is in reality receiving the payment, because it is circulated just like receiving money.
Is it permissible to buy gold with checks, or is it not?
Answer:
This requires consideration, and the closest view—may Allah know best—is that receiving the check is receiving the payment, if he gives him a check for the value; it is receiving the payment. However, taking the money in hand is more preferable and safer. If the gold is delivered to him and he is given dollars, dirhams, or another currency, this is the only way to be safe. As for if he is given a check from such-and-such a bank or such-and-such a shop, it is in reality receiving the payment, because it is circulated just like receiving money.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.