Back to search
The question

Is it permissible to purchase an ounce of gold with a partial upfront payment, and receive it later at the same agreed-upon price, knowing that the shop does not deliver the gold immediately and sells it by order?

Share this answer

Source: FtawySummary from Ftawy's records · added here Sep 2, 20261 min readAlso available in العربية
The answer

It is not permissible to enter into a contract for the purchase of gold and defer its possession, because it is one of the usurious commodities for which immediate possession is a condition at the time of the contract. However, a non-binding promise to buy is permissible, followed by the sale after the seller takes possession of the gold, and possession occurs upon payment of the price.

Summary from Ftawy's records · added here

Reviewed by El Fatwa's sharia committee.

Read the full answer on Ftawy
Where this answer came from
Source platform
Ftawy
Original fatwa ID
181342
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