What is the Sharia ruling on selling gold for paper currency with deferred payment?
Legal Answer
Radiif AI Legal Assistant
⚡ Quick Answer:
Selling gold for paper currency with deferred payment is considered a form of Riba al-Nasi'ah, which is Islamically prohibited. This is due to the non-fulfillment of immediate mutual possession (al-Taqabudh) at the contract session (majlis al-aqd), which is a condition for the validity of exchanging gold for money (sarf).
Legal References & Citations
حديث الذهب بالذهب رباً إلا هاء وهاء
Share this answer:
About Radiif
Radiif is an AI legal platform specialized in Saudi Arabian law, providing answers verified by legal references and articles.
This answer is for general legal education and is not legal advice. Please consult a licensed attorney for your specific case.
Page Stats
Do you have specific details about your case?
Ask Radiif AI Legal Assistant now and get verified answers with exact citations from Saudi law.
Do you want to consult a certified lawyer for this case?
We can suggest a list of certified lawyers with extensive expertise specifically in this domain.