Kind: captions
Language: en
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But fordul.
[Music]
So we have ribba in debts we covered
that we have ribba al
and we've covered that and we've said
that they are the six categories
then we have the ribba known as riven
and ni
in Arabic is to delay
to postpone
And in the hadith of nam the prophet
saidatam
gold for gold
silvers for silver
and we've stated that these two the
reason is the price and value
wheat for wheat barley for barley dates
for dates sold for sold like for like
same for same hand to hand. But if these
commodities are different then sell as
you like as long as it is hand to hand.
So
the issue of it being simultaneous
deals with the fact when the reason
is the same.
So you cannot buy silver
with cash or with gold because the
reason is the same the value and the
price unless it is done simultaneously.
So
if I want
to exchange
a quantity of dates
with a quantity of wheat,
Ramadan is approaching. I have a lot of
bags of flour. So I go to someone who
has lots of wheat of of dates and I say
to him, "Listen, um, would you like to
exchange some of your dates with the
wheat I have? You need to make bread."
Said, "Yeah, that's mighty fine." He
said, "Okay, here's two bags of
wheat. Ramadan is a month from now.
before Ramadan begins by one day I'm
going to come and collect X amount of
kilograms of dates that's fine with me
this is not permissible
why because it's not done simultaneously
the reason
is joint here wheat with dates so these
are staple food you cannot exchange one
with the other unless it is done
simultaneous ously. Likewise, I need
cash.
I need dollars. So, I go to the exchange
office and I said, "Listen, here's a
10,000 brials. I need the equivalent in
dollars." Said, "Sure thing." Uses the
calculator. Your money is x amount of
dollars. Said, "Okay, I agree." Says,
"Okay, come to me after ass prayer. I'll
have the cash ready." I'm fine with
that.
Sharia is not fine with that. This is
ribba. What should I do? Said okay I'll
come after with the money. I'm going to
take the money with me. Said no no no.
Keep the 10,000 so that I can guarantee
that you're going to come and assured no
this is it has to be done
simultaneously.
And there are many mistakes that happen
in selling and buying gold. So most
women go to the jeweler shop. They have
an old bracelet.
So they go and give it to the jeweler uh
to weigh and says, "Okay, this cost x
amount of dollars."
She looks around. though I like this
necklace. How much is it? He calculates
and he says it's y amount of dollars.
So if you want it, I'll take your
bracelet and you have to add to that an
x amount of uh uh dollars to pay for the
difference. This is haram.
Why? Because this is exchanging gold in
gold. This is fu.
It's not part of what we're talking
about.
This is rebel.
Why? Because you have to first sell him
the bracelet, cash the dollars in your
hand. Now you have the choice. It's a
different transaction. Whether you want
to buy the necklace, whether you want to
bargain with him or you go and buy it
from somewhere else. But this is common.
What is wrong in buying gold that is
related to ribbon?
When I go to the jeweler's shop and I
see gold, I see silver, something I
like, and I buy it with my credit card.
What's wrong with that?
the credit card will not reach the
seller's account except after a number
of days or weeks. It's not done
simultaneously. So it's this is like
writing him a check and he's giving me
the gold that I bought and he goes
tomorrow to cash the check. This is
haram. It has to be done simultaneously.
So what about buying it with an ATM? ATM
is fine because the moment you give him
an ATM
and he passes it through the machine,
the money goes instantly directly to his
account. He can see it. He gets an SMS
message that this amount has been
deposited in your bank account. This is
done simultaneously. There's no problem
in that.
Among the mistakes that people do is
they book the gold they want to buy and
this is done in gold markets on a large
scale. So you go to the place and you
say to him, I'd like to book
gold of 3 kilograms
on November the 5th. And he fixes the
price for you.
And this is haram
because it's not done simultaneously.
some countries
so that they can ensure that they have
foreign currency in their reserves. They
come to the merchant and say, "Okay, you
we know that you sold your money to that
you sold your goods to that country and
they're supposed to transfer the money
for you in x amount uh of time." So
you're selling them on credit. How about
if we give you this rate
fixed
so that they send you the amount in
euros
and you get the amount in rupees
of this fixed rate to him the merchant.
This is a good deal. Why? Today's rate
is going to be much much less than a
month from now.
So I sold my merchandise for €10,000
which translates to today's prices x
amount of rupees.
When they send me the money a month from
now, this is going to devaluate and the
rupees are going to be much less. I'd
rather cash it today with the fixed rate
which I did not receive but the
government would take so that I would
make a lot of money in my local currency
and it's a win-win for me. The
government is happy because they're
ensuring that they're getting foreign
currencies and the likes. This is not
permissible
because there is no deal done
simultaneously
and all of this people unfortunately
don't know or don't have an idea of
because they don't learn their religion
from trusted sources and they don't
understand the concept of ribba from the
Quran and from the sunnah.
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