Nafi’ says: I and Ibn Umar both went to Abu Sa’id Al-Khudri (may Allah be pleased with them), and he narrated to us that the Messenger of Allah (peace and blessings of Allah be upon him) said: (Both my ears heard this from him): “Sell gold for gold equally and silver for silver equally. Do not make one more or less than the other, and do not sell what is absent for what is present.” © Imam Tirmidhi says:
1- The hadith of Abu Sa’id Al-Khudri (may Allah be pleased with him) regarding riba, which he narrated from the Prophet (peace and blessings of Allah be upon him), is Hasan Sahih.
2- In this chapter, there are also ahadith from Abu Bakr, Umar, Uthman, Abu Hurairah, Hisham bin Amir, Bara’, Zayd bin Arqam, Fadala bin Ubaid, Abu Bakrah, Ibn Umar, Abu Darda, and Bilal (may Allah be pleased with them).
3- The people of knowledge among the Companions and others act upon this.
4- Except for what is narrated from Ibn Abbas (may Allah be pleased with them both), that he saw no harm in selling gold for gold and silver for silver with an increase or decrease, as long as the transaction is hand to hand, and he also said that riba is only in deferred sale, and something similar is narrated from some of his companions.
5- And it is also narrated from Ibn Abbas that when Abu Sa’id Al-Khudri narrated to him the hadith of the Prophet (peace and blessings of Allah be upon him), he retracted his statement. The first opinion is more correct. The people of knowledge act upon this, and this is also the view of Sufyan Thawri, Ibn Mubarak, Shafi’i, Ahmad, and Ishaq bin Rahwayh, and Ibn Mubarak says: There is no difference except in 1.
Explanation & Benefits
Shaykh Dr. Abdur Rahman Freywai
Explanation: 1؎ :
Selling gold and silver in exchange for gold and silver on the spot is called "bay‘ sarf" (currency exchange transaction).
Source: Sunan al-Tirmidhi – Majlis ‘Ilmi Dar al-Da‘wah, New Delhi Edition, Page: 1241
Maulana Dawood Raz
Hadith Commentary:
In this hadith, there is proof for Imam Shafi‘i rahimahullah that if one person owes another dirhams as a debt, and the other owes him dinars as a debt, then their sale (exchange) is not permissible, because this is the sale of al-kali bil-kali (selling a deferred payment for another deferred payment).
That is, selling credit for credit.
And in another hadith, this is explicitly prohibited, and the authors of the Sunan have narrated from Ibn ‘Umar radi Allahu anhu that he used to sell camels in Baqi‘, sometimes selling for dinars and taking dirhams, and sometimes selling for dirhams and taking dinars.
He asked the Messenger of Allah sallallahu alayhi wa sallam about this issue, and he (sallallahu alayhi wa sallam) said: There is no objection to it,
provided that it is taken at the rate of that same day,
and that they do not separate from each other without taking (possession).
Source: Sahih Bukhari: Commentary by Maulana Dawood Raz, Page: 2177
Shaykh Abdul Sattar al-Hammad
Hadith Commentary:
(1)
Hafiz Ibn Hajar rahimahullah states:
By "mithlu dhalik" (like that), it is meant that Abu Sa'id al-Khudri radi Allahu anhu narrated the hadith in a manner similar to the one narrated from Umar radi Allahu anhu, as is evident from the narration of Isma'ili.
In it, there is explicit mention that the content of Abu Sa'id al-Khudri's radi Allahu anhu hadith was the same as that of the hadith narrated from Umar radi Allahu anhu, and furthermore, this incident occurred with Ibn Umar radi Allahu anhu.
There is also an incident of Abu Sa'id al-Khudri radi Allahu anhu with Ibn Abbas radi Allahu anhu, which will be mentioned later (Hadith: 2178, 2179).
(2)
It should be noted that if a person is owed dirhams by someone, and another person is owed dinars by him, then these two cannot engage in buying and selling dirhams and dinars with each other. This is because if it is not permissible to buy and sell on credit from one side and cash from the other, then how can it be valid to sell on credit from both sides?
(Fath al-Bari: 4/481)
Source: Hidayat al-Qari: Commentary on Sahih Bukhari, Urdu, Page: 2177
Shaykh Maulana Abdul Aziz Alvi
Hadith Commentary: Benefits and Issues: It has already been mentioned above that Dhu’l-Hulayfah was not the final destination of the journey of the Messenger of Allah (sallallahu alayhi wa sallam), such that he (sallallahu alayhi wa sallam) did not go beyond it. During the journey, at various times, he (sallallahu alayhi wa sallam) stayed there temporarily and performed shortened prayers (qasr), because he (sallallahu alayhi wa sallam) was a traveler, and a traveler, when coming or going, may perform shortened prayers outside the populated area.
Source: Tuhfat al-Muslim: Commentary on Sahih Muslim, Page: 1584
Hafiz Muhammad Ameen
"Do not trade," meaning that credit transactions are not permissible because the value and mutual ratio of gold and silver keep changing. In such a situation, there is a possibility of dispute. The Shari'ah does not approve of discord.
Source: Sunan Nasa'i: Translation and Benefits by Shaykh Hafiz Muhammad Amin Hafizullah, Page: 4574
Hafiz Zubair Ali Zai
Hadith Authentication: [و اخرجه البخاري 2177، و مسلم 1584، من حديث مالك به]
Jurisprudential Explanation:
➊ Any increase in the exchange of gold and silver is forbidden, whether it is on the spot or deferred.
➋ If the commodities are different, then currency exchange is permissible, for example, giving riyals to take rupees or giving rupees to take riyals, etc.
➌ Muhammad Tahir al-Qadri (Barelvi) has quoted from Ahmad Raza Khan Barelvi that “if a person sells a ten-rupee note to another person for twelve (12) rupees on a promise of one year, then this is permissible.” [بلا سُود بنکاری/عبوری خاکہ طبع سوم جولائی 1987ء ص100]
Barelvi Sahib’s declaring this act permissible is completely incorrect; rather, the truth is that this is explicit usury (riba). Sayyiduna Fadala bin Ubaid radi Allahu anhu said: «كل قرض جر منفعته فهو وجه من وجوه الربا» Every loan that draws a benefit is one of the types of usury. [السنن الكبريٰ للبيهقي 5/350 وسنده صحيح وأخطأ من ضعفه]
Source: Muwatta Imam Malik (Narration of Ibn al-Qasim): Commentary by Zubair Ali Zai, Page: 259