In the age of e-commerce and digital advancement, buying gold online has become commonplace among customers. With the proliferation of online jewelry stores, a crucial question arises for many: Is it permissible to buy gold in installments through these online stores? This article explores the Islamic legal perspective, guidelines, and advantages of purchasing from Masa Al-Saada store while adhering to Islamic law.
What is the ruling on buying gold in installments through online stores?
Gold is a precious metal with specific rulings in Islamic law. In some cases, deferring a sale or loan is prohibited, particularly when dealing in gold for gold in cash. While the situation differs slightly for jewelry, purchasing gold on installment plans raises questions about the legality of the transaction and ensuring it avoids usury or uncertainty.
Installment plans in online stores have become common, but it's important to understand the difference between legitimate and prohibited sales. A legitimate sale is based on a clear price, immediate delivery of the gold, and a precisely defined payment date, while a prohibited sale involves delayed delivery or ambiguity regarding the price or payment terms.
Ruling on selling gold on credit
1. Reasons for saying it is not permissible
Some scholars believe that buying gold on installment is not permissible according to Islamic law because gold is considered a commodity subject to usury, which requires immediate exchange . That is, the gold must be received and the price paid simultaneously; neither can be postponed, as this constitutes usury (riba al-nasi'ah ), which is forbidden in Islamic law.
2. The opinion of some scholars that it is permissible
Conversely, there is a legal opinion that permits purchasing gold jewelry on installment plans, provided the price is clearly defined, the installment period is specified, and immediate delivery of the gold upon purchase is guaranteed. This opinion is based on considerations of contemporary transactions and the application of Sharia principles in accordance with the developments in e-commerce.
3. Summary of the legal opinion
In short, installment sales are permissible if there is clarity, immediate delivery, and guarantees for the rights of both parties . However, if there is ambiguity or delay in delivery, it is contrary to Islamic law.
Conditions to consider when buying gold in installments
For a transaction to be legitimate when buying gold from online stores, the following points must be considered:
1. Immediate exchange
It is essential to ensure that the payment and delivery of gold are completed without any delay. Upon completion of the purchase, payment and delivery of the gold should be immediate, or through a reliable mechanism that fulfills the requirement of immediate exchange. In the case of online stores, the gold is often received through shipping companies that collect on your behalf, which constitutes valid immediate exchange.
2. No postponement or installment payment in violation of the law
To avoid falling into usury, any delay in payment or any type of installment plan that does not comply with Islamic law must be avoided. In other words, delivery and payment must be simultaneous or secured by a mechanism that ensures compliance with Islamic law, as is the case in some Sharia-compliant online stores.
3. Verify the contract terms
Before completing the purchase, the store's terms and conditions should be read carefully to ensure that the contract is compliant with Islamic law and does not contain any condition that leads to usury.
4. Fulfilling the condition of exchange
According to Islamic law, the condition of immediate exchange must be met for a sale to be valid. When the price of gold is transferred to the store or intermediary company, the transferred amount is considered a sale upon the shipping company's receipt of the item, thus ensuring the transaction complies with Islamic law.
How does Masa Al Saada store guarantee legitimate installment purchases?
Diamond of Happiness store offers a safe and legitimate online gold buying experience, where:
- The final price of each item is clearly stated before purchase, with no hidden fees.
- Gold will be delivered immediately upon order confirmation, whether payment is made in cash or through a legitimate installment plan.
- Providing installment options in a transparent manner ensures compliance with Islamic law.
- Using clear electronic contracts that protect the rights of both the seller and the buyer.
In conclusion, buying gold online is no longer difficult, but installment plans require adherence to Islamic guidelines to ensure the transaction is valid. Installment sales are permissible only if the following conditions are met: a clear price, immediate delivery, and a clearly defined installment period.
Diamond of Happiness store offers you a legitimate and secure online gold shopping experience, with a guarantee of full compliance with Islamic law. Explore our collection now and enjoy shopping with confidence and peace of mind, with secure and Sharia-compliant installment options.