´It was narrated that :` Abu Sa'eed Al-Khudri recited this Verse: “O you who believe! When you contract a debt for a fixed period...” until: “then if one of you entrusts the other.” Then he said: “This abrogates what came before.”
Hadith Referenceسنن ابن ماجه / كتاب الأحكام / 2365
Hadith Gradingالألبانی:حسن | زبیر علی زئی:إسناده حسن
1؎: And some scholars have said that the previous verse is not abrogated because it was a recommended (mustahabb) ruling, not an obligatory one. And what is recommended is that when a loan is taken, it should be written down and witnesses should be appointed, because life is uncertain. It may happen that the creditor (dain) or the debtor (madyun) passes away, and then there is dispute among their heirs, or the debt remains upon the debtor and his heirs do not pay it, resulting in accountability in the Hereafter.
Explanation & Benefits
Maulana Ataullah Sajid
Benefits and Issues:
➊ This is a mawquf hadith, meaning it is the statement of a Companion, not the saying of the Prophet sallallahu alayhi wa sallam. If there is no marfu‘ hadith (Prophetic statement) in opposition to the statement of a Companion, then evidence can be taken from the mawquf hadith.
➋ By “mansukh” (abrogated) here, the technical meaning of abrogation is not intended. The meaning is that in the first verse, the command was to record every loan in writing, but when a loan is taken with collateral (rahn), then this is not included in the previous command. Similarly, when a trust (amanah) is deposited on the basis of mutual confidence, this too is not included in the previous command, and it is not necessary to record it in writing.
➌ This is an exceptional case. Just as writing is not necessary in the case of trust, similarly, pledging collateral (rahn) is also not necessary. However, even then, it is better to record it in writing.
Source: Commentary on Sunan Ibn Mājah by Mawlānā ‘Atā’ullāh Sājid, Page: 2365