Is it permissible to conduct transactions (buying and selling) with a bank that allows the purchase of gold from an account in local currency or dollars and its immediate deposit into the client's special gold account, with the possibility of selling it to the bank at any time, knowing that the bank genuinely owns the gold and it is sealed with its seal?

Purchasing gold from a bank takes three forms:

1. The first form: The gold is not available with the bank and is only recorded in the client's account. This is impermissible, due to the absence of actual possession of the gold at the time of the contract, which is a condition for selling and buying gold, based on the Prophet's (PBUH) saying: "If it is hand-to-hand."

2. The second form: The gold is owned by the bank and is available with it, and it is separated and registered under the client's specific name. This is permissible because the separation and registration are considered actual possession.

3. The third form: The gold is owned by the bank and is available with it, but upon purchase, it is not separated under the client's name; rather, it is only recorded in their account without specific designation. This form is a matter of debate. Some scholars view bank registration as sufficient, considering it a constructive possession similar to paper currencies. Others believe that gold and silver differ from paper currencies and that bank registration is not sufficient for them, as they are specific tangible assets, and the effects of constructive possession, such as absolute disposal of them, are not present. This latter opinion is more cautious and absolves one from responsibility.