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Is this (riba in sale) reported by Rasulullah (sallallahu alaihi wasallam)?

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Asked on July 14, 2008 12:00 am
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Hadhrat Abu Saeed Khudri (radhiallahu anhu) reports that Rasulullaah (sallallahu alaihi wasallam) said  [Trade in gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates and salt for salt in equal quantities and hand to hand (cash). Thus whoever increases or seeks increase, indeed he is guilty of Riba. Both the giver and the taker are equal (in sin)].

Hadhrat Ubada bin Saamit (radhiallahu anhu) reported that Rasulullaah (sallallahu alaihi wasallam) said [Trade in gold for gold........ in equal quantities, of the same kind, hand to hand. If you trade in different types, then trade as you wish (i.e. whatever quantities on either side), but it must still be hand to hand (cash)].

Rasulullaah (sallallahu alaihi wasallam) mentioned these six commodities and ordered that these things should not be traded in amongst themselves for the same type, except that they are traded in equal quantities and hand to hand (cash). He (sallallahu alaihi wasallam) explained that whoever increases in quantity, whether the giver or taker, indeed he has indulged in sin. He (sallallahu alaihi wasallam) mentioned that both the contracting parties (in a Riba transaction) are equal in sin.

However, the sale of those types of commodities are permitted, if traded in different types (i.e. amongst each other), whether it be in equal quantities or in excess, on condition that it is cash.

Imaam Abu Hanifah (rahmatullahi alaih) has used these six commodities as a derivative for the Shar`i law that the contributive factor to Riba is weight or measure in the same type of commodity (i.e. any weighed or measured item of same type must be traded in equal quantities and cash).

Any commodities, either weighed or measured, if they are traded in weight or measure for the same type, even if it is not from the six mentioned in the Hadith, in equal quantities, then the sale is valid.

If any one of the parties increases in the quantity then it is not valid. If the commodities traded in, differ in type, then excess on either side is valid, but credit is Haraam. When the goods differ in qualitative description - i.e. the types differ and either of them are not sold in weight or measure, then excess and credit are both permissible. If in the goods being traded in, both are of the same type and both are weighed or measured items then excess and credit are Haraam. If the type differs or the means of quantifying differ (e.g. One kg wheat for two kg barley) then excess is valid and credit is Haraam (Kitaabul Buyoo).

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Answered on July 14, 2008 12:00 am