Fatwa No : 82524
Ruling on Buying and Selling Jewelry on Credit

Ruling on Buying and Selling Jewelry on Credit

What do the esteemed scholars say regarding this issue: Is it permissible in Shariah to deal on credit with a jeweler for making jewelry and similar items?

الجوابُ حامِدا ًو مُصلیِّا ً

In the present era, currency notes are considered as “thaman” (legal tender), referred to as thaman-‘urfi (customary money). In ancient times, they were essentially receipts representing thaman-khalqi (intrinsic money, i.e., gold and silver). However, their nature and reality have now changed, and they are regarded as thaman-‘urfi. Therefore, buying and selling gold and silver with currency notes is permissible, and the rulings of bay‘ al-sarf (exchange contracts) will apply to such transactions. Likewise, purchasing gold and silver on credit through currency notes is also permissible, provided that the payment period is clearly fixed at the time of the contract (for example, one week, fifteen days, or one month). However, some scholars deem purchasing gold and silver on credit with currency notes as impermissible. Hence, if someone exercises caution by avoiding credit transactions in buying gold and silver with currency notes, it is better. (Adapted from: Jadid Tijarat)

مأخَذُ الفَتوی

کمافي تكملة فتح الملهم: فالحكم بعدم اداء الزکوۃ بأوراق العملة و بحرمة شراء الذهب والفضة بهما، فيه حرج عظيم والمعبود. من الشريعة السمحة في مثله السعة والسهولة والعمل بالعرف العام المتفاهم بين الناس اھ (۱/ ۵۲۰)۔
وفيه ايضا: ان المختار عندنا قول من يجعلها اثمانا اصطلاحية و حينئذ تجرى عليها أحكام الفلوس النافقة سواء بسواء وقد أسنان آنفا أن مبادلة الفلوس بجنسها لا يجوز بالتفاضل عند محمدؒ وينبغي ان يفتي بهذا القول في هذا الزمان سداً لباب الربا وعليه فلا يجوز مبادلة الأوراق النقدية بجنسها متفاضلة يجوز اذا كانت متماثلة اھ (۱/ ۵۹۰ )