Sharia ruling on the permissibility of buying & selling gold & silver online: bay’al-sarf



Can I buy gold jewellery online where by I make a payment to the seller using bank transfer of paper money or do the same using my bank card. The seller then sends me the gold item by post? Did we exchange the gold and paper money on the spot or not please?

Also can I sell the gold in same manner online for a profit and post customers gold jewellery after I have received payment?

I am concerned about the Hadith recently seen cited in (Muslim) where gold is to be paid for by gold, silver for silver, barley for barley, dates by dates, salt by salt like for like equal for equal weight. Prophet Muhammad SAWS also stated sell as you wish if the classes differ as long as payment is made on the spot.

Did this Hadith only relate to gold and silver coins not jewellery? Today we are using paper money which all four school of thoughts have agreed is not from the commodity included in this hadith so it does not come under dealing with interest.

Therefore I am buying and selling gold using paper money is this halal even though the goods are not been exchanged hand by hand and for a commodity not included in the Hadith
(Paper money)
Please help.
Thank you kindly.



Buying and selling gold online, in the manner described, is permissible.

In traditional Islamic law, the section on bay’ al-sarf governs the exchanges of currencies and stores of value. It stipulates that one can sell gold for silver and silver for gold with differences in the amount, on the condition that the exchange and possession takes place in the same setting.[1] It is the position Mufti Taqi Uthmani and a number of scholars from India and Pakistan that the sale of gold and silver with fiat paper currencies will not be regulated under the laws of bay‘ al-sarf.[2] Instead, the sale would be valid if possession takes place from one side alone.[3]

In an online sale of gold, the buyer accepts the offer of sale (ijab) by checking out the item and putting their details in. The buyer pays their dues and the online company/website, acting as the seller’s agent (wakīl), takes possession of the money. This is sufficient for the validity of the sale.

And Allah knows best.

[1]              مختصر القدوري» (ص90): الصرف هو: البيع إذا كان كل واحد من العوضين من جنس الأثمان فإن باع فضة بفضة أو ذهبا بذهب لم يجز إلا مثلا بمثل وإن اختلفا في الجودة والصياغة ‌ولا ‌بد ‌من ‌قبض ‌العوضين قبل الافترق وإذا باع الذهب بالفضة جاز التفاضل ووجب التقابض وإن افترقا في الصرف قبل قبض العوضين أو أحدهما بطل العقد ولا يجوز التصرف في ثمن الصرف قبل قبضه ويجوز بيع الذهب بالفضة مجازفة»

[2]              فتاوي عثماني  (3/153)ان المبادلة الذهب والفضة بالنقود الورقية ليست صرفا ولا يشترط فيها التقابض فلا اشكال اصلا وان هذا القول هو الراجح عندي و عند اغلبية علماء الهند وباكستان

[3] Fatawa Uthmani, 3:142-3, (Makataba-i Ma’arif al-Quran)

Answered by:
Maulana Ikramul Hoque Miah

Checked & Approved by:
Mufti Abdul Rahman Mangera
Mufti Zubair Patel