What is deferred-payment sale (bay' al-nasi'ah) and what is its ruling?

Nasi’ah means delay. So, if a sale is made with an agreement to delay the payment, it is a nasi’ah sale, and it is permissible due to the absolute statement of Allah Almighty: "And Allah has permitted trade," and because the Prophet, peace and blessings be upon him, bought food from a Jew on credit, and mortgaged his shield. A condition for the permissibility of a nasi’ah sale is that the sale must not be of something that requires immediate exchange (qabd). Therefore, it is not permissible to sell gold and silver for cash on credit, as this involves riba al-nasi’ah (usury of delay), based on the Prophet’s, peace and blessings be upon him, saying: "Do not sell gold for gold unless it is like for like, and do not increase one over the other. And do not sell silver for silver unless it is like for like, and do not increase one over the other. And do not sell what is absent for what is present." And today, currency takes the place of gold in ruling.