Is it permissible to sell coupons granted by the company to employees for purchasing goods of a certain value for less than their face value?

A coupon that entitles its holder to purchase goods from a specific place is not considered a cash equivalent but rather represents goods.

1. Coupons obtained through a contract of exchange (purchase): If they are for food items: It is impermissible to sell them before taking possession (qabd), by consensus, because it constitutes selling food before taking possession of it. If they are for non-food items: The preponderant view is that it is impermissible, due to the generality of the Prophetic narrations that prohibit selling goods before taking possession of them.

2. Coupons obtained without exchange (e.g., a gift from a company): There is a difference of opinion regarding the permissibility of selling them before taking possession of the goods. The preponderant view: It is permissible for the one who received the coupon as a gift to sell it to another. However, the one who purchased it from him is not allowed to sell it to a third party until he takes possession of the goods. This view is supported by what Al-Zuhri narrated from Ibn Umar and Zayd ibn Thabit, and it has also been adopted by some contemporary scholars. The ambiguity in specifying the goods with the coupon is considered excused, as the goods are specified by a certain amount of money.