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Is buying gold, silver, and platinum from an Islamic bank permissible in Sharia without immediate possession of the metals?

1 min readAlso available in العربية

It is permissible to invest in gold if Islamic legal rulings are adhered to, such as actual or constructive possession (taqabud). Permissible forms include: immediate buying and selling, whether the contracting parties are in one place or through modern communication methods with constructive possession taking place. Also, book-entry buying and selling, whereby a customer buys gold and it is recorded in their account while remaining in the bank, and the customer authorizes the bank to sell it when its value increases, provided that the purchased quantity is specified in a way that distinguishes it from others. As for platinum, the condition of possession (taqabud) required for gold and silver is not applicable to it.

Summarized from the full answer at Ftawy · reviewed Sep 2, 2026

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