The Book of Financial Transactions

"‏ الذَّهَبُ بِالذَّهَبِ وَزْنًا بِوَزْنٍ مِثْلاً بِمِثْلٍ وَالْفِضَّةُ بِالْفِضَّةِ وَزْنًا بِوَزْنٍ مِثْلاً بِمِثْلٍ فَمَنْ زَادَ أَوِ ازْدَادَ فَقَدْ أَرْبَى ‏"

"The Messenger of Allah said: 'Gold for gold, weight for weight, like for like; and silver for silver, weight for weight, like for like. Whoever gives more or takes more has engaged in Riba."'

"‏ لاَ تَبِيعُوا الذَّهَبَ بِالذَّهَبِ إِلاَّ مِثْلاً بِمِثْلٍ وَلاَ تُشِفُّوا بَعْضَهَا عَلَى بَعْضٍ وَلاَ تَبِيعُوا الْوَرِقَ بِالْوَرِقِ إِلاَّ مِثْلاً بِمِثْلٍ وَلاَ تَبِيعُوا مِنْهَا شَيْئًا غَائِبًا بِنَاجِزٍ ‏"

"Do not sell gold for gold except like for like and do not differentiate. Do not sell silver for silver except like for like, and do not sell it in return for something to be paid later."

"‏ وَلاَ تَبِيعُوا غَائِبًا بِنَاجِزٍ وَلاَ تُشِفُّوا أَحَدَهُمَا عَلَى الآخَرِ ‏"

"My eyes saw and my ears heard the Messenger of Allah. And he mentioned the prohibition of (selling) gold for gold and silver for silver, unless it is equal amounts, like for like. And do not sell it in return for something to be paid later, and do not differentiate."

حَدَّثَنَا قُتَيْبَةُ، عَنْ مَالِكٍ، عَنْ زَيْدِ بْنِ أَسْلَمَ، عَنْ عَطَاءِ بْنِ يَسَارٍ، أَنَّ مُعَاوِيَةَ، بَاعَ سِقَايَةً مِنْ ذَهَبٍ أَوْ وَرِقٍ بِأَكْثَرَ مِنْ وَزْنِهَا فَقَالَ أَبُو الدَّرْدَاءِ سَمِعْتُ رَسُولَ اللَّهِ صلى الله عليه وسلم يَنْهَى عَنْ مِثْلِ هَذَا إِلاَّ مِثْلاً بِمِثْلٍ ‏.‏

Muawiyah sold a cup of gold or silver for more than its weight. Abu Ad-Darda' said: "I heard the Messenger of Allah forbid such transactions unless it was like for like."

"‏ لاَ تُبَاعُ حَتَّى تُفَصَّلَ ‏"

"On the Day of Khaibar I bought a necklace containing gold and ggems for twelve Dinars. The I took it apart and found that it contatined more than twelve Dinars. Mentiion of that was made to the Prophet and he said: 'It should not be sold until it is taken apart."

"‏ افْصِلْ بَعْضَهَا مِنْ بَعْضٍ ثُمَّ بِعْهَا ‏"

"On the Day of Khaibar I got a necklace containing gold and gems, and I wanted to sell it. Mention of that was made to the Prophet and he said: 'Take it apart, and then sell it."'

"‏ مَا كَانَ يَدًا بِيَدٍ فَلاَ بَأْسَ وَمَا كَانَ نَسِيئَةً فَهُوَ رِبًا ‏"

"Sharik sold some silver on credit for me. He came to me and told me. And I said: 'This is not correct.' He said; 'By Allah, I did this transaction in the market and no one criticized me .' So I went to Al-Bara bin Azib and asked him about that. He said: 'The Prophet came to us in Al-Madinah and we used to do this kind of transaction, but he said: Whatever is hand to hand, there is nothing wrong with it, but whatever is on credit, is Riba. Then he said to me: 'Go to Zaid bin Arqam.' So I went to him and asked him, and he said the same thing."

"‏ إِنْ كَانَ يَدًا بِيَدٍ فَلاَ بَأْسَ وَإِنْ كَانَ نَسِيئَةً فَلاَ يَصْلُحُ ‏"

" I asked Al-Bara bin 'Azib and Zaid bin Arqam and they said: 'We were merchants at the time of the Messenger of Allah and we asked the Prophet of Allah about money exchange. He said: "If it is done hand to hand there is nothing wrong with it, but if it is done on credit then it is not right."

أَخْبَرَنَا أَحْمَدُ بْنُ عَبْدِ اللَّهِ بْنِ الْحَكَمِ، عَنْ مُحَمَّدٍ، قَالَ حَدَّثَنَا شُعْبَةُ، عَنْ حَبِيبٍ، قَالَ سَمِعْتُ أَبَا الْمِنْهَالِ، قَالَ سَأَلْتُ الْبَرَاءَ بْنَ عَازِبٍ عَنِ الصَّرْفِ، فَقَالَ سَلْ زَيْدَ بْنَ أَرْقَمَ فَإِنَّهُ خَيْرٌ مِنِّي وَأَعْلَمُ ‏.‏ فَسَأَلْتُ زَيْدًا فَقَالَ سَلِ الْبَرَاءَ فَإِنَّهُ خَيْرٌ مِنِّي وَأَعْلَمُ فَقَالاَ جَمِيعًا نَهَى رَسُولُ اللَّهِ صلى الله عليه وسلم عَنِ الْوَرِقِ بِالذَّهَبِ دَيْنًا ‏.‏

"I asked Al-Bara bin 'Azib about money exchange. He said: 'Ask Zaid bin Arqam, for he is better than me and more knowledgeable.' So I asked Zaid and he said: 'Ask Al-Bara for he is better than me and more knowledgeable.' And they both said: 'The Messenger of Allah forbade (selling) silver for gold on credit."'

وَفِيمَا قَرَأَ عَلَيْنَا أَحْمَدُ بْنُ مَنِيعٍ قَالَ حَدَّثَنَا عَبَّادُ بْنُ الْعَوَّامِ، قَالَ حَدَّثَنَا يَحْيَى بْنُ أَبِي إِسْحَاقَ، قَالَ حَدَّثَنَا عَبْدُ الرَّحْمَنِ بْنُ أَبِي بَكْرَةَ، عَنْ أَبِيهِ، قَالَ نَهَى رَسُولُ اللَّهِ صلى الله عليه وسلم عَنْ بَيْعِ الْفِضَّةِ بِالْفِضَّةِ وَالذَّهَبِ بِالذَّهَبِ إِلاَّ سَوَاءً بِسَوَاءٍ وَأَمَرَنَا أَنْ نَبْتَاعَ الذَّهَبَ بِالْفِضَّةِ كَيْفَ شِئْنَا وَالْفِضَّةَ بِالذَّهَبِ كَيْفَ شِئْنَا ‏.‏

"The Messenger of Allah forbade selling silver for silver and gold for gold, unless it was of equal amounts. And he told us to sell gold for silver however we wanted, and silver for gold however we wanted.