Chapter: The Prohibition of selling silver for gold to be paid at a later date

Hadith 1589 Part A

setting

Abu Minhal reported

My partner sold silver to be paid in the (Hajj) season or (in the days of) Hajj. He (my partner) came to me and informed me, and I said to him: Such transaction is not desirable. He said: I sold it in the market (on loan) but nobody objected to this. I went to al-Bara' b. 'Azib and asked him, and he said: Allah's Apostle (ﷺ) came to Medina and we made such transaction, whereupon he said: In case the payment is made on the spot, there is no harm in it, and in case (it is 'sold) on loan, it is usury. You better go to Zaid b. Arqam, for he is a greater trader than I; so I went to him and asked him, and he said like it.

Hadith 1589 Part B

setting

Habib reported that he heard Abu Minhal as saying

I asked al-Bara' b. Azib about the exchange of (gold for silver or vice versa), whereupon he said: you better ask Zaid b. Arqam for he knows more than I. So I asked Zaid but he said: You better ask al-Bara' for he knows more than I. Then both of them said: Allah's Messenger (ﷺ) forbade the sale of silver for gold when payment is to be made in future.

Hadith 1590 Part A

setting

Abd al-Rabman b. Abia Bakra reported on the authority of his father that Allah's Messenger (ﷺ) forbade the sale of gold for gold, and silver for silver except equal for equal, and commanded us to buy silver for gold as we desired and buy gold for silver as we desired. A person asked him (about the nature of payment), whereupon he said

It is to be made on the spot. This is what I heard (from Allah's Messenger (may peace be upon him ).

Hadith 1590 Part B

setting

Abd al-Rabman b. Abu Bakra said

Allah's Messenger (ﷺ) prohibited us. The rest of the hadith is the same.