Excerpt: Fatawa Aman Puri by Sheikh Ghulam Mustafa Zaheer Aman Puri
Question:
Can a gold ring be designated as a dowry?
Answer:
Whatever the parties agree upon can be set as the dowry, whether it is a gold ring or an iron ring. It is also permissible to make an iron ring as the dowry. The Prophet Muhammad (peace be upon him) said to Sayyidina Suhail bin Sa'ad (may Allah be pleased with him) regarding the dowry:
التمس ولو خاتما من حديد
"Seek, even if it is just an iron ring."
Reference: (Sahih Bukhari: 5121, Sahih Muslim: 1425)
❀ Allama Ibn Qayyim (may Allah have mercy on him)
Reference: (751 AH)
states:If both parties are agreeable, then a small dowry, even if it is just an iron ring, has been rejected due to an unsubstantiated report and the most corrupt analogy against the clear and firm Sunnah of the permissibility of marriage. The Holy Quran has generally stated:
﴿أَنْ تَبْتَغُوا بِأَمْوَالِكُمْ﴾
Reference: (An-Nisa: 24)
"It is lawful for you to marry for your wealth."
Moreover, in the case of mutual consent of the parties, the analogy of buying and selling for a small or large amount is also required. (The Hanafi school has compared the dowry to the cutting off of the hand. However, where is marriage and where is theft? Where is the permissibility of the private parts and where is the cutting off of the hand in theft? It has been mentioned several times that the best analogy is made by the Ahl al-Hadith, because the closer a person is to the Hadith, the more correct their analogy will be, and the further a person is from the Hadith, the more corrupt their analogy will be.)
Reference: (I'lam al-Muwaqqi'in 'an Rabb al-'Alamin: 330/2)
