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Fatwas of the Permanent Committee
Browse by Volume Number > Group 1 > Volume 13: Transactions 1 > Buyu` > Riba Al-Nasi'ah > Difference between Riba Al-Fadl and Riba Al-Nasi'ah:The thirty second question of Fatwa no. 18612:
Question 32:
Would you kindly explain the difference between Riba Al-Fadl (usury of excess, selling an item for another of the same type, on the spot, but in excess) and Riba Al-Nasi'ah (usury of delay, conditional excess for delay of payment)?
Answer:
Riba Al-Nasi'ah is derived from the Arabic root ''nasa'a'' which means to ''delay" or "defer". This type of Riba falls into two categories:
First: Charging interest on the loan lent to an insolvent debtor. This category was commonly practiced in the pre-Islamic era. A person, for example, may lend another person a sum of money to be paid back on a specified date. When the date agreed upon is due, the creditor gives the debtor the choice either to repay the debt or defer repayment in return for charging additional interest on the principal.
Second: Exchanging two items of the same type which bear the common cause of Riba Al-Fadl while stipulating deferment of delivery of one or both of the exchanged items. An example of this includes exchanging gold for gold or for silver or exchanging silver for gold while stipulating deferment of delivery.
Riba Al-Fadl is derived from the Arabic root "fadl" which means "increase" or "growth". This type of Riba involves increase in either of the two articles subject to exchange. According to Hadith of the Prophet, six things are susceptible to Riba Al-Fad: gold, silver, wheat, barley, dates and salt.
It is prohibited to charge interest on such transactions where any of the above things are exchanged for articles of the same type. The same holds true with regard to exchanging two articles which bear the same common cause of prohibition. It is, for example, prohibited to exchange a kilo of gold of inferior quality for half a kilo of superior quality. The same is applicable in the case of exchanging a good type of silver, wheat, barley, dates, or salt for a poor type.
It is only permissible to exchange articles of the above mentioned things provided that they are equal in weight and the exchange has to be made in a hand-to-hand transaction.
However, it is permissible to exchange a kilo of gold for two kilos of silver provided that it is a hand-to-hand transaction. This is because gold and silver are of different types. The Prophet (peace be upon him) said, Gold is to be exchanged for gold, silver for silver, wheat for wheat, barley for barley, dates for dates, and salt for salt, like for like and equal for equal, payment being made hand to hand. If these classes differ, then sell as you wish if payment is made hand to hand. Narrated by Muslim from the Hadith narrated on the authority of `Ubadah ibn Al-Samit (may Allah be pleased with him).
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
The Permanent Committee for Scholarly Research and Ifta':
Member Member Deputy Chairman Chairman
Bakr Abu Zayd Salih Al-Fawzan `Abdul-`Aziz Al Al-Shaykh `Abdul-`Aziz ibn `Abdullah ibn Baz[/SIZE]
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Fatwas of Ibn Baz>Volume 19>Book on Al-Buyu` (Sales)>Interview>Difference between Tawarruq and both types of Riba: Riba Al-Fadl and Riba Al-Nasi'ah:The Difference between Tawarruq Sale and the two types of Riba: Riba Al-Fadl and Riba Al-Nasi'ah:
Question 138:
According to the definition of Riba Al-Nasi'ah (usury of delay, conditional excess for delay of payment), it is an excess for delay. To what extent does this transaction conform to the grain and cars debt system that is in effect now as a substitute for usury-fee loans? Please provide us with a Fatwa (legal opinion issued by a qualified scholar). May Allah reward you well!
Answer:
Riba (usury/interest) is the act of exchanging two objects of the same type, namely; Riba Al-Fadl (usury of excess, selling an item for another of the same type, on the spot, but in excess), such as exchanging one Sa` (1 Sa`=3 kg. Approx.) of something for two of the same type, or a Dirham for two, whether this takes place instantly or on a deferred basis. If this involves debt for debt, then it includes both types of Riba; Riba Al-Fadl and Riba Al-Nasi'ah. As for Tawarruq sale (selling by installments, then the purchaser selling the product to a third party for cash), it is not one of these types, for it involves buying a commodity on credit from a person then selling it in cash on the same day or after that to someone else.
The correct opinion is that it is permissible, according to the general evidence mentioned to this effect. Furthermore, it includes relieving, facilitating and meeting people's present need. As for selling an item to the person from whom it has been bought, this is not permissible, rather it is one of prohibited Riba- based transactions that is called the issue of 'Inah (sale with immediate cash repurchase for profit), for it is a form of delusion observed to deal with Riba. It is the exchange of similar items for excess amounts either on a deferred basis or in cash. However, there is nothing wrong with Tawarruq sale as previously mentioned, for a person tends to buy a commodity such as foodstuff, a car, a piece of land or other items for cash money for a fixed term from one person, then he sells it to someone else for cash in order to meet their needs such as marriage and so on.[/SIZE]
[SIZE=2]Fatwas of Ibn Baz>Volume 19>Book on Al-Buyu` (Sales)>Interview>Ruling on selling food for another of the same type in excess:
Question 142: Wheat crops are cultivated in abundance in our country, but there is currency shortage. We, therefore, use the grain in trading instead of currency. At seeding time, we buy one Sa` (1 Sa`=3 kg. Approx.) for one Riyal. However, at the time of harvest, we deliver them two Sa`s for each Riyal because the price at harvest is less than that at seeding time. Is this transaction lawful?
Answer:
This kind of transaction is a subject of disagreement among the scholars. The majority are of the view that it is not permissible because it is a way to sell wheat and the like for another of the same type in conditional excess for delay of payment. This is the essence of Riba as it involves two kinds of Riba: Riba Al-Nasi'ah (usury of delay, conditional excess for delay of payment) and Riba Al-Fadl (usury of excess, selling an item for another of the same type, on the spot, but in excess). On the other hand, some scholars held that this transaction is permissible provided the buyer and seller do not work in collusion. They should, upon contracting, not stipulate that the wheat is to be exchanged for currency. This is the view of the people of knowledge in this respect. Yet, your way of dealing suggests that you planned to deliver a larger quantity of cereal for a lesser quantity because of the currency shortage. This way is not permissible. To be safer and avoid dealing in Riba, farmers must sell their grains in cash to a third party other than the merchants who purchased the seeds.
If the farmers agree with the merchants to buy from them using currency, the farmers are unable to make the payment except through exchanging the value of the sale with grains. The most correct opinion is that it is permissible provided they do not work in collusion, or stipulate any condition beforehand. This is the view held by some scholars especially when the farmers are needy. The merchants fear that their rights will be lost if they do not take the quantity of cereals which is equivalent to the liabilities the farmers have. The poor farmers may use the grain to fulfill their needs or repay another creditor and the merchants lose their rights. It should be noted that it is impermissible for the farmers and merchants to plan to exchange, after the harvest, the currency with grains. The grains which are delivered to the merchants should be equal to what the farmers take; the merchants should not take more or consider it as a loan. The sale becomes Haram if they planned to take more.
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