عَنْ عَمْرِو بْنِ شُعَيْبٍ عَنْ أَبِيهِ عَنْ جَدِّهِ رَضِيَ اللَّهُ عَنْهُ قَالَ نَهَى رَسُولُ اللَّهِ صَلَّى اللَّهُ عَلَيْهِ وَآلِهِ وَسَلَّمَ عَنْ بَيْعَتَيْنِ فِي بَيْعَةٍ وَعَنْ بَيْعٍ وَسَلَفٍ وَعَنْ رِبْحِ مَا لَمْ يُضْمَنْ وَعَنْ بَيْعِ مَا لَيْسَ عِنْدَكَ
It is narrated from Sayyiduna Abdullah bin Amr bin al-As (may Allah be pleased with them both) that the Messenger of Allah (peace and blessings be upon him) forbade making two sales in one transaction, combining sale and credit, profiting from something for which a person is not a guarantor, and selling something which is not in one’s ownership.
Brief Explanation
Benefits: … The meaning of the four terms mentioned in the blessed hadith:
(بَیْعتَیْنِ فِیْ بَیْعٍ: two sales in one sale) is prohibited. This is narrated from Sayyiduna Abu Hurairah, Sayyiduna Abdullah ibn Mas‘ud, and Sayyiduna Abdullah ibn ‘Umar (radi Allahu anhum). The narrators of this hadith have defined this term in the same way as (شَرْطَیْنِ فِیْ بَیْعٍ: two conditions in one transaction). For example, in the hadith of Sayyiduna Abdullah ibn Mas‘ud, Simak ibn Harb, and in the hadith of Sayyiduna Abu Hurairah radi Allahu anhu, Abdul Wahhab ibn ‘Ata said: The meaning of (two sales in one sale) is that a person says, “I will sell you this item; if you pay after one month, the price will be such-and-such, and if after two months, it will be such-and-such.” (The details of whether this is permissible or not will be discussed ahead.)
(بَیْعٌ وَ سَلَفٌ: a sale and a loan in one transaction): Ibn Athir, explaining its meaning, said: Its meaning is, for example, a person says, “I will sell you this slave for one thousand, on the condition that you sell me such-and-such goods in a forward sale (bay‘ salam) or give me a loan of one thousand.” In such a case, the purpose of giving the loan would be that the borrower will show leniency in the price in return, the extent of which becomes unknown, and secondly, a loan that brings benefit is usury (riba).
Bay‘ salam: The price is paid in advance and the sold item (mabi‘) is received after a specified period.
(وَرِبْحِ مَا لَمْ یُضْمَنْ: profit from something for which one is not liable for loss): Imam Khattabi said: Its case is that Irfan bought goods from Farooq and, before taking possession, sold them to Ibrahim. In such a case, the first seller, i.e., Farooq, will be liable for the goods. Until Irfan takes possession of the goods and becomes liable for them, it is prohibited for him to sell them further.
(وَبَیْعِ مَا لَیْسَ عِنْدَکَ: selling something that is not in your possession): Imam Khattabi said: What is meant by this is the sale of a specific item (bay‘ al-‘ayn), not the sale of a description (bay‘ al-sifah). Consider that bay‘ salam has been permitted for long periods, even though in it the seller is selling something that he does not possess at the time of the contract; this is bay‘ al-sifah.
The Prophet sallallahu alayhi wa sallam prohibited making a deal for something that the seller does not possess, due to the risk of deception and uncertainty (gharar), for example, selling a runaway slave or a stray and runaway camel; this is bay‘ al-‘ayn.
Similarly, it can also be said that, in general, selling something that a person does not possess is prohibited, but the form of bay‘ salam is permissible because its permissibility is explicitly stated, just as from the prohibition of bay‘ muzabana, bay‘ ‘araya is excepted. (Abdullah Rafiq)