He buys gold over the phone then it is sent to him
Dear Brothers & Sisters,As-Salaamu-Alaikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)
One of our brothers/sisters has asked this question:
The owner of a gold store buys gold from wholesalers over the phone, and they agree upon a price. The product is shown to the buyer, then he sends him the payment through the bank and the dealer sends the gold to him. Is this permissible?.
(There may be some grammatical and spelling errors in the above statement. The forum does not change anything from questions, comments and statements received from our readers for circulation in confidentiality.)
Check below answers in case you are looking for other related questions:
Praise be to Allaah.
Selling gold for cash is subject to the condition that the transaction be completed in one sitting, i.e., the gold is handed over to the buyer and the price is handed over to the seller in one sitting. It is not permissible for them to separate before making this hand-to-hand exchange. See question no. 22869. Based on this, it is not permissible to buy this gold in this manner.
The Standing Committee was asked a similar question and they replied: This transaction is not permissible because of the delay in the exchange of the price and the goods being bought, whether both are gold or one is gold and the other is silver, or the currency notes that have taken their place. This is called riba al-nasa’ and is haraam. Rather the transaction should be done when the money is there at the time of the transaction. End quote.
Fataawa al-Lajnah al-Daa’imah, 13/475.
Whatever written of Truth and benefit is only due to Allah's Assistance and Guidance, and whatever of error is of me. Allah Alone Knows Best and He is the Only Source of Strength.
Recommended answers for you: