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The question

Is it permissible to trade gold in international markets by purchasing a quantity of it with a bank guarantee, then selling it and reclaiming the guarantee?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

The transaction mentioned involves two prohibitions: dealing with usurious banks without necessity, which is forbidden due to cooperation in sin and aggression; and purchasing gold with a deferred price, which is unlawful because it constitutes usury of delay (riba al-nasia), as the sale must be hand-to-hand when the types differ.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
Source platform
Ftawy
Original fatwa ID
41411
Imported
Translation status
Source text, unreviewed
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