The Hadith Of Riba: Riba Revisited, #8

By Nizar Abdulrahman Alshubaily

What are the main sayings of The Prophet (PEACE BE UPON HIM) on the issue of Riba?

How have they been explained by the predecessor scholars, and what rulings do they give?

Are some of the statements contradictory to the known rules of Riba?

What exceptions and disputes have arisen from the different understandings of the sayings?

In this eighth volume of Riba Revisited, the above subjects and more will be discussed and explained.

• Language: English
• Publisher: The Persuader Publishing
• Release date: Aug 3, 2021
• ISBN: 9798201359430

Book preview

In

Memory

Of

My

Parents

Also By The Author

Riba Revisited Series:

Riba In Mubadalah

Riba In Jewelry

Riba Complexity

Riba In Contracts

The Book Of Quotes

The Names Of Riba

A Sale Is Like Riba

Myths Of Riba

The Verses Of Riba

Essays In Islamic Finance Series:

Essays In Islamic Finance I

Essays In Islamic Finance II

Essays In Islamic Finance III

The Hadith Of Riba

Volume VIII

Riba Revisited Series

Copyright © Nizar Abdulrahman Alshubaily, 2021

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, electronic, mechanical, photocopied, recorded, or otherwise, without prior written permission of the copyright holder, except for reference and citation, with proper acknowledgment.

Cover Page: Photo of Manuscript of Sahih Al-Bukhari courtesy of Alukah.net

EBOOK ISBN: 9798201359430

The Hadith Of Riba

Nizar Abdulrahman Alshubaily

An Explanation Of The Hadith

On Riba

Volume VIII

Riba Revisited Series

2021 

Introduction

This is the eighth book of the Riba Revisited Series, and it is dedicated to the Hadith of Riba.

Hadith means saying and its plural is Ahadith, but we will use Hadith throughout this book for simplicity. Hadith is considered anything said, done, or acquiesced, by The Prophet (PEACE BE UPON HIM) and is synonymous with the word Sunnah.

There are many such Hadith, from multiple sources, such as Sunan Ibn Majah, Sunan Ibn Daud, Sunan Al-Nisai, and Jame’ Al-Tirmithi.

These four books, together with Sahih Muslim and Sahih Al-Bukhari make up what is called The Six Books, a term used by the scholars to denote the best of the sayings of The Prophet (PEACE BE UPON HIM).

Sahih Muslim and Sahih Al-Bukhari are called Al-Sahihayn, or The Two Correct Versions and are considered the most correct versions.

There are of course others such as Musnad Ahmad, Al-Muwatta’ of Imam Malik, and Sunan Al-Darimi. These three and the above six are also called The Nine Books.

In this book, I have only used Sahih Muslim and Sahih Al-Bukhari. This is to ease and simplify, but also to steer as close to the most accepted versions.

I have also focused only on any Hadith of Riba that gives specific rulings and not a general statement.

The different Hadiths are grouped together in subjects and an explanation is given for each area of Riba.

The reader will find that much of the Hadiths relate to what is called Riba Al-Buyu’, or the Riba of Sales. This is the Riba introduced by The Sunnah. The other Riba is called Riba Al-Duyun and Riba Al-Qurud, and is the Riba introduced and prohibited in The Qur’an.

Nizar Abdulrahman Alshubaily

August 2021

Chapter One

Gold for Gold...

Part I

The Hadith

We first begin with some Hadiths from both Muslim and Al-Bukhari.

The Hadiths from Sahih Muslim, from The Book of Musaqat and Muzara’ah (1):

[4054] 75 - (1584) It was narrated from Abu Sa’eed Al- Khudri that the Messenger of Allah (PEACE BE UPON HIM) said: Do not sell gold for gold except like for like, and do not give more of one and less of the other. Do not sell silver except like for like, and do not give more of one and less of the other. And do not exchange something to be given later for something to be given now.

[4055] 67 - (...) Abu Sa'eed Al-Khudri narrated this from the Messenger of Allah (PEACE BE UPON HIM)- according to the report of Qutaibah, Abdullah and Nafi' went with him; and according to the Hadith of Ibn Rumh, Nafi' said: Abdullah and Al-Laithi and I went with him – until he entered upon Abu Sa'eed Al-Khudri who said: This one told me that you are narrating that the Messenger of Allah (PEACE BE UPON HIM) forbade selling silver for silver except like for like, and selling gold for gold except like for like. Abu Sa'eed pointed to his eyes and ears and said: My eyes saw, and my ears heard the Messenger of Allah (PEACE BE UPON HIM) saying: Do not sell gold for gold, and do not sell silver for silver, except like for like, and do not give more of one and less of the other, and do not exchange something to be given later for something to be given now, except hand to hand."

[4058] 78 - (1585) It was narrated from Uthman bin Affan (RAA) that the Messenger of Allah (PEACE BE UPON HIM) said: Do not sell one Dinar for two Dinar, or one Dirham for two Dirham.

[4059] 79 - (1586) It was narrated from Malik bin Aws bin Al-Hadathan that he said: I was going around saying: Who will exchange Dirham (for my gold)? Talhah bin Ubaidullah, who was with Umar bin Al-Khattab, said: Show us your gold, then come to us later, when our servant comes, and we will give you your silver. Umar bin Al-Khattab said: No, by Allah! Either give him his silver (now) or give him back his gold, for the Messenger of Allah (PEACE BE UPON HIM) said: 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."

[4063] 81 - (...) It was narrated that Ubadah bin As-Samit said: The Messenger of Allah (PEACE BE UPON HIM) said: Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, same for same, hand to hand. But if these commodities differ, then sell as you like, as long as it is hand to hand."

[4064] 82 - (1584) It was narrated that Abu Sa'eed Al-Khudri said: The Messenger of Allah (PEACE BE UPON HIM) said: Gold for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, salt for salt, like for like, hand to hand. Whoever gives more or asks for more, he has engaged in Riba, and the taker and the giver are the same."

[4066] 83 - (1588) It was narrated that Abu Hurairah said: The Messenger of Allah (PEACE BE UPON HIM) said: Dates for dates, wheat for wheat, barley for barley, salt for salt, like for like, hand to hand. Whoever gives more or asks for more, he has engaged in Riba, except in cases where the types differ."

[4072] 87 - (...) It was narrated from Habib that he heard Abu Al-Minhal say: I asked Al-Bara' bin Azib about exchanging (gold for silver or vice versa) and he said: Ask Zaid bin Arqam, for he is more knowledgeable. I asked Zaid and he said: Ask Al-Bara, for he is more knowledgeable. Then they said: The Messenger of Allah (PEACE BE UPON HIM) forbade selling silver for gold to be paid at a later date.

[4073] 88 - (1590) Abdur-Rahman bin Abi Bakrah narrated that his father said: The Messenger of Allah (PEACE BE UPON HIM) forbade selling silver for silver and gold for gold, except like for like; and he told us to buy silver for gold however we wished, and to buy gold for silver however we wished. He said: A man asked him: Hand to hand? He said: that is what I heard."

And from Sahih Al-Bukhari, from The Book Of Sales (2):

(8) CHAPTER. Trade of cloth and other things.

2060, 2061. Narrated Abu Al-Minhal: I used to practice money exchange, and I asked Zaid bin Arqam (RAA) about it, and he narrated what the Prophet (PEACE BE UPON HIM) said (as follows): Abu Al-Minhal said, I asked Al-Bara' bin Azib and Zaid bin Arqam about practicing money exchange. They replied, We were traders in the lifetime of Allah's Messenger (PEACE BE UPON HIM) and I asked Allah's Messenger (PEACE BE UPON HIM) about money exchange. He replied, "If it is from hand to hand, there is no harm in it; but if there is Nasee’a (delay in payment) then it is not permissible.’"

(20) CHAPTER. Selling of mixed dates.

2080. Narrated Au Sa’eed (RAA): We used to be given mixed dates (from the booty) and used to sell (barter) two Sa’ (of those dates) for one Sa’ (of good dates). The Prophet said (to us), No (bartering of) two Sa’, for one Sa’ nor two Dirhams for one Dirham is permissible.

(54) CHAPTER. What is said about the selling of the foodstuff and its storage.

2134. Narrated Az-Zuhri on the authority of Malik bin Aus that the latter said, Who has change? Talha said, "I (will