Narrated Sulaiman bin Abu Muslim: I asked Abu Minhal about money exchange from hand to hand. He said, "I and a partner of mine bought something partly in cash and partly on credit." Al-Bara' bin `Azib passed by us and we asked about it. He replied, "I and my partner Zaid bin Al-Arqam did the same and then went to the Prophet and asked him about it. He said, 'Take what was from hand to hand and leave what was on credit.' "
Explanation & Benefits
Shaykh Abdul Sattar al-Hammad
Hadith Commentary:
(1)
Bay‘ sarf refers to the exchange of currency.
This transaction must be conducted hand to hand (immediate exchange), because in the case of deferred payment, there is a risk of increase or decrease (in value).
Since the prices of gold and silver fluctuate, currency transactions should be conducted on the spot; trading on credit is not permissible.
(2)
The intent of Imam Bukhari rahimahullah is that partnership in gold, silver, and other exchangeable items is permissible, provided that each partner contributes gold or silver. However, the condition is that the assets of both partners are combined in such a way that any distinction between them is eliminated.
If one side contributes gold and the other side contributes silver, there is a difference of opinion regarding partnership in such a case.
Most scholars consider it impermissible, but the position of Imam Nawawi rahimahullah is that if one partner has dirhams and the other has dinars, and they combine them to conduct currency exchange, then this is permissible.
Imam Bukhari rahimahullah has not mentioned any restriction in the chapter heading.
His inclination appears to be in line with Imam Nawawi’s view, that such a practice is permissible and there is no objection to it.
(Fath al-Bari: 5/166)
Source: Hidayat al-Qari: Commentary on Sahih Bukhari, Urdu, Page: 2497