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The question

What is the ruling on selling gold for US dollars on credit, with supporting evidence, and is it permissible for a فقيه (Islamic jurist) to rule that this is permissible both in cash and on credit due to the difference in their types?

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

It is not permissible to sell gold for US dollars on credit (deferred payment) due to the difference in their types while sharing the same underlying cause (being a medium of exchange/store of value). Hand-to-hand exchange is required at the time of the contract, based on the Hadith of 'Ubadah ibn al-Samit: "Gold for gold... hand-to-hand."

Summarized from the full answer at Ftawy · imported

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Source platform
Ftawy
Original fatwa ID
31896
Imported
Translation status
Source text, unreviewed
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