{"id":7286,"date":"2013-11-30T15:38:38","date_gmt":"2013-11-30T15:38:38","guid":{"rendered":"http:\/\/daruliftabirmingham.co.uk\/?p=7286"},"modified":"2020-06-25T13:20:31","modified_gmt":"2020-06-25T13:20:31","slug":"selling-gold-in-exchange-formoney","status":"publish","type":"post","link":"https:\/\/daruliftabirmingham.co.uk\/home\/selling-gold-in-exchange-formoney\/","title":{"rendered":"Selling gold in exchange for money"},"content":{"rendered":"<p style=\"font-size: 13px; text-align: right;\">\n\t<span style=\"color: rgb(0, 0, 0);\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana, geneva, sans-serif;\"><strong>Fatwa ID: 01499<\/strong><\/span><\/span><\/span>\n<\/p>\n<p style=\"font-size: 13px;\">\n\t<span style=\"color: rgb(0, 0, 0);\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana, geneva, sans-serif;\"><strong>Answered by&nbsp;<\/strong>Mufti Mohammed Tosir Miah<\/span><\/span><\/span>\n<\/p>\n<p style=\"font-size: 13px;\">\n\t<span style=\"color: rgb(0, 0, 0);\"><span style=\"font-size: 14px;\"><strong><span style=\"font-family: verdana, geneva, sans-serif;\">Question:<\/span><\/strong><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\">Selling gold in exchange for money<\/span><\/span><\/span>\n<\/p>\n<p style=\"font-size: 13px;\">\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\"><strong style=\"font-family: verdana, geneva, sans-serif; font-size: 14px; color: rgb(0, 0, 0); line-height: 1.6em;\">Answer:<\/strong><\/span><\/span><\/span>\n<\/p>\n<p style=\"font-size: 13px;\">\n\t<span style=\"font-size:14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\"><a href=\"http:\/\/daruliftabirmingham.co.uk\/wp-content\/uploads\/2013\/06\/Bismillah.jpg\" rel=\"\" target=\"\" title=\"\"><span style=\"color:#000000;\"><img loading=\"lazy\" alt=\"Bismillah\" class=\"size-full wp-image-6518 alignnone\" height=\"50\" src=\"http:\/\/daruliftabirmingham.co.uk\/wp-content\/uploads\/2013\/06\/Bismillah.jpg\" title=\"\" width=\"267\" \/><\/span><\/a><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\"><span style=\"color: rgb(0, 0, 0);\"><span style=\"font-family: verdana, geneva, sans-serif;\">In the name of Allah, the most Beneficent, the most Merciful.<\/span><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\">Mufti Taqi Usmani (DB) has said that paper currency is a medium of transaction in itself hence it is to be considered to be in place of gold or silver.&nbsp; The notes cannot be converted into gold or silver and they are accepted as money throughout the world.&nbsp; Paper currencies fall into the category of Fulus.&nbsp;&nbsp; (Al Qadhaayah Al Fiqhiyyah Al Muassirah &ndash; Mufti Taqi Usmani p.147)<\/span><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\">With regards to your question, in the Hanafi Fiqh, the cause for riba is the trading of any good measured by weight or volume in exchange for goods of the same genus.&nbsp;&nbsp; (Fathul Qadir p.183 v.5 &amp; Badaaius Sanaai p.247 v.5)<\/span><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\">As paper currencies are not from the same genus of gold or silver but are measured by the same weight, it will be permissible to buy and sell with excess on one side however, it will have to be done in the same sitting.<\/span><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\">Only Allah Knows Best<\/span><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\">Mohammed Tosir Miah<\/span><\/span><\/span>\n<\/p>\n<p>\n\t<span style=\"color:#000000;\"><span style=\"font-size: 14px;\"><span style=\"font-family: verdana,geneva,sans-serif;\">Darul Ifta Birmingham.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fatwa ID: 01499 Answered by&nbsp;Mufti Mohammed Tosir Miah Question: Selling gold in exchange for money Answer: In the name of Allah, the most Beneficent, the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[],"_links":{"self":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/7286"}],"collection":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/comments?post=7286"}],"version-history":[{"count":1,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/7286\/revisions"}],"predecessor-version":[{"id":15887,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/posts\/7286\/revisions\/15887"}],"wp:attachment":[{"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/media?parent=7286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/categories?post=7286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/daruliftabirmingham.co.uk\/home\/wp-json\/wp\/v2\/tags?post=7286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}