Is it permissible for a gold shop owner to purchase from wholesale traders by agreeing on the price over the phone, such that the merchandise is displayed to the buyer, then the price is transferred via bank, and the trader sends the gold to him?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
It is a condition for the sale of gold with banknotes that there be mutual possession, meaning the buyer takes possession of the gold and the seller takes possession of the price in the contract session. It is not permissible to depart before this occurs. This contract is not permissible due to delaying the possession of the two counter-values, and it is called prohibited riba an-nasi'ah (usury of delay). The sale should be resumed when the price is available, with whatever they agree upon, hand in hand.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/18099
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 18099
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy