Question: In jewelry shops, people invest a specific amount for a fixed period each month. At the end of this period, they receive a reward, and no additional charges are added to the jewelry. Is it permissible to buy jewelry this way?
Answer: If someone adopts the method of paying small amounts monthly to a jeweler until the total amount is collected, and then buys jewelry like gold or silver from the jeweler, along with receiving a reward, this method is not permissible. For buying gold and silver, it is essential that the transaction is completed in one sitting, meaning the money is handed over, and the jewelry is received in the same instance. This is the only permissible method for buying gold and silver, which should be done on a cash basis, not on credit. Collecting small amounts and then purchasing jewelry is a form of credit transaction, which is not allowed.
For such people, my advice is to save the money you are giving to the jeweler with yourself, and when the amount is sufficient to buy the jewelry, purchase it in one go with cash. This is a permissible transaction.
Respondent: Sheikh Maqbool Ahmed Salafi Hafizahullah
Jeddah Dawah Center, Saudi Arabia
Interpreter: Hasan Fuzail
Learn why the first ten days of Dhul Hijjah are the most virtuous and how Qurbani embodies Islamic devotion. Read More
Does the worldly punishment for Zina clear the sin in the hereafter? Can an intoxicated person be punished? A detailed… Read More
Can you marry someone pregnant from Zina? What is the lineage and inheritance of a child born from Zina? This… Read More
A detailed explanation of Zina in Islam, its severe consequences, the prescribed punishments of lashing and stoning (rajm) in the… Read More
Discover what Islam teaches about friendship, based on the Quran and Sunnah. Learn how to choose righteous friends and the… Read More
Explore the comprehensive rights Islam grants to women, from spiritual equality to economic independence, and how these principles align with… Read More