Abu Nadra reported: I asked Ibn Abbas (Allah be pleased with them) about the conversion (of gold and silver for silver and gold). We said: Is it hand to hand exchange? I said: Yes. whereupon he said: There is no harm in it. I informed Abu Sa'id about it, telling him that I had asked Ibn 'Abbas about it and he said: Is it hand to hand exchange? I said: Yes, whereupon he said: There is no harm in it. He (the narrator) said, or he said like it: We will soon write to him, and he will not give you this fatwa (religious verdict). He said: By Allah, someone of the boy-servants of Allah's Messenger ( صلی اللہ علیہ وسلم ) brought dates, but he refused to accept them (on the plea) that those did not seem to be of the dates of our land. He said: Something had happened to the dates of our land, or our dates. So I got these dates (in exchange by giving) excess (of the dates of our land), whereupon he said: You made an addition for getting the fine dates (in exchange) which tantamounts, to interest; don't do that (in future). Whenever you find some doubt (as regards the deteriorating quality of) your dates, sell them, and then buy the dates that you like.
Read More..Abu Nadra reported: I asked Ibn Umar and Ibn Abbas (Allah be pleased with them) about the conversion of gold with gold but they did not find any harm in that. I was sitting in the company of Abd Sa'id al-Khudri (Allah be pleased with him) and asked him about this exchange, and he said: Whatever is addition is an' interest. I refused to accept it on account of their statement (statement of Ibn 'Abbas and Ibn 'Umar). He said: I am not narrating to you except what I heard from Allah's Messenger ( صلی اللہ علیہ وسلم ). There came to him the owner of a date-palm with one sa' of fine dates, and the dates of Allah's Apostle ( صلی اللہ علیہ وسلم ) were of that colour. Allah's Apostle ( صلی اللہ علیہ وسلم ) said to him: Where did you get these dates? I went with two sa's of (inferior dates) and bought one sa' of (these fine dates), for that is the prevailing price (of inferior dates) in the market and that is the price (of the fine quality of dates in the market), whereupon Allah's Messenger ( صلی اللہ علیہ وسلم ) said: Woe be upon you! You have dealt in interest, when you decide to do it (i. e. exchange superior quality of dates for inferior quality) ; so you should sell your dates for another commodity (or currency) and then with the help of that commodity buy the dates you like. Abu Sa'ad said: When dates are exchanged for dates (with different qualities) there is the possibility (of the element of) interest (creeping into that) or when gold is exchanged for gold having different qualities. I subsequently came to Ibn 'Umar and he forbade me (to do it), but I did not come to Ibn 'Abbas; (Allah be pleased with them). He (the narrator) said: Abu as-Sahba' narrated to me: He asked Ibn Abbas (Allah be pleased with them) in Mecca, and he too disapproved of it.
Read More..Abu Salih reported: I heard Abu Sa'id al-Khudri (Allah be pleased with him) said: Dinar (gold) for gold and dirham for dirham can be (exchanged) with equal for equal; but he who gives more or demands more in fact deals in interest. I sald to him: Ibn 'Abbas (Allah be pleased with them) says otherwise, whereupon he said: I met Ibn 'Abbas (Allah be pleased with them) and said: Do you see what you say; have you heard it from Allah's Messenger ( صلی اللہ علیہ وسلم ), or found it in the Book of Allah, the Glorious and Majestic? He said: I did not hear it from Allah's Messenger ( صلی اللہ علیہ وسلم ). and I did not find it in the Book of Allah (Glorious and Majestic), but Usama b. Zaid narrated it to me that Allah's Apostle ( صلی اللہ علیہ وسلم ) said: There can be an element of interest in credit.
Read More..Ubaidullah b. Abu Yazid heard Ibn 'Abbas (Allah be pleased with them) as saying: Usama b. Zaid reported Allah's Apostle ( صلی اللہ علیہ وسلم ) as saying: There can be an element of interest in credit (when the payment is not equal).
Read More..Ibn 'Abbas; (Allah be pleased with them) reported on the authority of Usama b. Zaid Allah's Messenger ( صلی اللہ علیہ وسلم ) as having said this: There is no element of interest when the money or commodity is exchanged hand to hand.
Read More..Ata' b. Abu Rabah reported: Abu Sa'id al-Khudri (Allah be pleased with them) met Ibn 'Abbas (Allah be pleased with them) and said to him: What do you say in regard to the conversion (of commodities or money) did you hear it from Allah's Messenger ( صلی اللہ علیہ وسلم ), or is it something which you found In Allah's Book, Majestic and Glorious? Thereupon Ibn Abbas (Allah be pleated with them) said: I don't say that. So far at Allah's Massenger ( صلی اللہ علیہ وسلم ) is concerned, you know him better, and to far as the Book of Allah to concerned, I do not know it (more than you do), but 'Usama b. Zaid (Allah be pleased with him) narrated to me Allah's Messenger ( صلی اللہ علیہ وسلم ) as having said this: Beware, there can be an element of interest in credit.
Read More..