Keyboard Shortcuts

SpacePlay / Pause
KPlay / Pause
JRewind 10s
LForward 10s
Rewind 10s
Forward 10s
FFullscreen
MMute
CToggle captions
TTheater mode
0-9Seek to 0%-90%
?Show this help
10s
10s
0:00 / 0:00

Ruling on Buying Gold with MasterCard

4 views 16h ago 1 min Fiqh EN subs AR subs
Sheikh Sulayman ar-RuhailyProfessor, Islamic University of Madinah
Description
Sheikh Sulayman ar-Ruhaily addresses whether purchasing gold using a MasterCard or credit card is permissible in Islam, given the requirement for immediate exchange in gold transactions.
Transcript 20 lines
0:00

He asks: Is it permissible to buy gold with a MasterCard?

0:06

It debits the balance directly as soon as it's inserted in the machine.

0:11

Buying gold with cards requires further distinction.

0:18

If the card is one from which the balance is debited immediately.

0:25

so it goes from the buyer's account to the seller's while in the shop.

0:33

This is allowed.

0:35

Because both sides took possession in the sale session.

0:41

But if the card is one that is delayed or may be delayed.

0:52

Then it takes an hour or two.

0:54

Three hours until it is credited to the seller's account.

1:03

That is not allowed for gold.

1:05

Because immediate possession is required.

1:09

Even if the funds were withdrawn from the buyer's account.

1:14

But it had not reached the account.

1:17

The seller; here, possession has not occurred.

1:23

But if the card is as the questioner said.

1:26

Or as with some cards, as soon as it is completed.

1:29

The transaction: debited from the buyer's balance.

1:32

And credited to the seller's balance.

1:35

So this is permissible and this counts as taking possession. Yes.

Comments