Hadith

Some hadith pertinent to commercial dealings

[The Prophet gave one of his Companions] a dinar to buy for him sacrifice animals or a ewe. He bought with it two ewes, then sold one of them for a dinar. He brought him a ewe and a dinar, and he [the Prophet] invoked God’s blessing for him in his trade. ‘For were he to buy dirt he would make a profit in it.’[1]

Allah’s Messenger said, ‘Do not sell gold for gold unless equivalent in weight, and do not sell less amount for greater amount or vice versa; and do not sell silver for silver unless equivalent in weight, and do not sell less amount for greater amount or vice versa and do not sell gold or silver that is not present at the moment of exchange for gold or silver that is present.’[2]

Abu Hurayra reported the Prophet said ‘God Almighty says “I am the third of two partners for so long as one of them does not wrong the other. But if he betrays him I leave them”’[3]

Malik ibn Awas ibn al-Hadathan reported:

I came saying: ‘Who was prepared to exchange dirhams [silver coins] (for my gold)?’ Whereupon Talha ibn ‘Ubayd Allah (as he was sitting with ‘Umar ibn al-Khattab) said: ‘Show us your gold and then come to us (at a later time.) When our servant would come we would give you your silver (dirhams due to you).’ Thereupon ‘Umar ibn al-Khattab said: ‘Not at all. By Allah! Either give him his silver (coins), or return his gold to him, for Allah’s Messenger said: “Exchange of silver for gold is riba except if the exchange is hand to hand, and wheat for wheat is riba unless it is hand to hand, and barley for barley is riba unless it is hand to hand , and dates for dates is riba unless it is hand to hand.”’[4]

Only an errant one hoards.[5]

Abu Hurayra (Allah be pleased with him) reported that Allah’s Messenger (may peace be upon him) forbade a transaction determined by throwing stones, and the type which involves some uncertainty.’[6]

 

 

 

[1] Bukhari, Muslim, Abu Dawud, Tirmidhi (Vogel and Hayes, Religion, Risk and Return page 60)

[2] Abu Sa‘id al-Khudri (Bukhari, Sahih Kitab al-Buyu‘, No 385)

[3] Ahmad ibn al-Husayn al-Bayhaqi, Al-Sunan al-Kubra, Dar El-Hadith, 2008 vol 6 page 146

[4] Muslim, Kitab al-Buyu‘, No 3850

[5] Bukhari, Muslim, Abu Dawud, Tirmidhi (Vogel and Hayes, Religion, Risk and Return page 65)

[6] Muslim, Jami‘ al-Sahih, Kitab al-Buyu‘, No 3614