Hadith on Financial Transactions: 'The Prophet Came To Us In Al-Madinah And We Used To Do This Kind Of Transaction, But He Said: Whatever Is Hand To Hand, There Is Nothing Wrong With It, But Whatever Is On Credit, Is Riba

Sunan an-Nasai 4575 (Book 44, Hadith 127) #19108

The Prohibition of Credit Transactions

SUMMARY: Transactions on credit are not allowed as it is considered Riba.

It was narrated that abu Al-Minhal said: "Sharik sold some silver on credit for me. He came to me and told me. And I said: 'This is not correct'. He said; 'By Allah, I did this transaction in the market and no one criticized me '. So I went to Al-Bara bin Azib and asked him about that. He said: 'The Prophet came to us in Al-Madinah and we used to do this kind of transaction, but he said: Whatever is hand to hand, there is nothing wrong with it, but whatever is on credit, is Riba. Then he said to me: 'Go to Zaid bin Arqam'. So I went to him and asked him, and he said the same thing".

أَخْبَرَنَا مُحَمَّدُ بْنُ مَنْصُورٍ، عَنْ سُفْيَانَ، عَنْ عَمْرٍو، عَنْ أَبِي الْمِنْهَالِ، قَالَ بَاعَ شَرِيكٌ لِي وَرِقًا بِنَسِيئَةٍ فَجَاءَنِي فَأَخْبَرَنِي فَقُلْتُ، هَذَا لاَ يَصْلُحُ ‏.‏ فَقَالَ قَدْ وَاللَّهِ بِعْتُهُ فِي السُّوقِ وَمَا عَابَهُ عَلَىَّ أَحَدٌ فَأَتَيْتُ الْبَرَاءَ بْنَ عَازِبٍ فَسَأَلْتُهُ فَقَالَ قَدِمَ عَلَيْنَا النَّبِيُّ ﷺ الْمَدِينَةَ وَنَحْنُ نَبِيعُ هَذَا الْبَيْعَ فَقَالَ ‏ "‏ مَا كَانَ يَدًا بِيَدٍ فَلاَ بَأْسَ وَمَا كَانَ نَسِيئَةً فَهُوَ رِبًا ‏"‏ ‏.‏ ثُمَّ قَالَ لِي ائْتِ زَيْدَ بْنَ أَرْقَمَ فَأَتَيْتُهُ فَسَأَلْتُهُ فَقَالَ مِثْلَ ذَلِكَ

TOPICS
transaction * credit * prohibited * tijarah * rahn * mamnoo * riba

QUICK LESSONS:

Follow Allah's commands honestly in all transactions

EXPLANATIONS:

This hadith discusses the prohibition of transactions done on credit. It was narrated by Abu Al-Minhal that Sharik sold some silver to him on credit and he was unsure if this transaction was permissible or not. He then went to ask Al-Bara bin Azib about this and he said that the Prophet came to them in Madinah and told them that whatever transactions are done hand to hand are permissible but anything done on credit would be considered riba or usury which is forbidden in Islam. He then asked Zaid bin Arqam who also confirmed the same thing. This hadith teaches us that any transaction done through loan or debt should be avoided as it can lead one into sinning and disobeying Allah's commands.

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