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Musnad Ahmad 314 (Book 2, Hadith 221) #33996
The Prohibition of Riba and Exchange on Spot

SUMMARY: This hadith is about the prohibition of riba (usury) and the importance of exchanging goods on the spot.

It was narrated that Malik bin Aws bin al-Hadathan said: l brought some dinars of mine and wanted to exchange them. Talhah bin 'Ubaidullah met me and we agreed to an exchange. Then he took them and said: Wait until my storekeeper comes - Abu 'Amir said. From al-Ghalal (a place). And he said concerning it. All of it should be 'Take this’ and 'take this' ie, exchanged on the spot. - I asked 'Umar bin al-Khattab (رضي الله عنه) about that and he said: I heard the Messenger of Allah say: 'Silver for gold is riba, unless it is exchanged on the spot, wheat for wheat is riba, unless it is exchanged on the spot; barley for barley is riba, unless it is exchanged on the spot dates for dates is riba unless it is exchanged on the spot".
حَدَّثَنَا عُثْمَانُ بْنُ عُمَرَ، وَأَبُو عَامِرٍ قَالَ حَدَّثَنَا مَالِكٌ، عَنِ الزُّهْرِيِّ، عَنْ مَالِكِ بْنِ أَوْسِ بْنِ الْحَدَثَانِ، قَالَ جِئْتُ بِدَنَانِيرَ لِي فَأَرَدْتُ أَنْ أَصْرِفَهَا فَلَقِيَنِي طَلْحَةُ بْنُ عُبَيْدِ اللَّهِ فَاصْطَرَفَهَا وَأَخَذَهَا فَقَالَ حَتَّى يَجِيءَ سَلْمٌ خَازِنِي قَالَ أَبُو عَامِرٍ مِنْ الْغَابَةِ وَقَالَ فِيهَا كُلِّهَا هَاءَ وَهَاءَ قَالَ فَسَأَلْتُ عُمَرَ بْنَ الْخَطَّابِ رَضِيَ اللَّهُ عَنْهُ عَنْ ذَلِكَ فَقَالَ سَمِعْتُ رَسُولَ اللَّهِ يَقُولُ الذَّهَبُ بِالْوَرِقِ رِبًا إِلَّا هَاءَ وَهَاءَ وَالْبُرُّ بِالْبُرِّ رِبًا إِلَّا هَاءَ وَهَاءَ وَالشَّعِيرُ بِالشَّعِيرِ رِبًا إِلَّا هَاءَ وَهَاءَ وَالتَّمْرُ بِالتَّمْرِ رِبًا إِلَّا هَاءَ وَهَاءَ‏.‏

TOPICS
usury  *  exchange  *  spot  *  riba  *  tijarah  *  alzaman

QUICK LESSONS:
Do your business dealings honestly without taking advantage of others through unfair means such as usurious transactions etc., Make sure to do your exchanges immediately without any delay so as not to fall into sinning by doing usurious transactions .

EXPLANATIONS:
This hadith discusses the prohibition of riba or usury in Islam. Usury is defined as taking an unfair advantage when trading goods or services by charging an additional amount for a loan or exchange. In this hadith it was narrated that Malik bin Aws brought some dinars to exchange with Talhah bin 'Ubaidullah but Talhah asked him to wait until his storekeeper came. Umar then asked about this situation and it was revealed that Prophet Muhammad said that exchanging silver for gold or wheat for wheat etc should be done immediately otherwise it would be considered as usury which is forbidden in Islam. This hadith teaches us that we should not take advantage of others when trading goods and services and we should always make sure to do our exchanges immediately without any delay so as not to fall into sinning by doing usurious transactions.

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