Is it permissible to sell a Russian Maternity Capital certificate, which the wife is entitled to after the birth of a second child and whose monetary value can be disbursed after three years, for half its value to a buyer who will sell it for its full value after the three years have passed, or does this fall under the category of Riba al-Nasi’ah (usury of delay) or Riba al-Fadl (usury of surplus)?

It is impermissible to sell a promissory note for less than its face value to another party who will collect its value before its maturity date. This constitutes selling a future debt to someone other than the debtor for immediate cash that is less than its value. This transaction is prohibited because it leads to selling money for money with a delay and an increase, which is usury (riba al-fadl and riba al-nasi'ah), and is termed "debt discounting." Banknotes are treated like gold and silver in this regard.