The Messenger of Allah (ﷺ) said: Gold is to be paid for with gold, raw and coined, silver with silver, raw and coined (in equal weight), wheat with wheat in equal measure, barley with barley in equal measure, dates with dates in equal measure, salt by salt with equal measure; if anyone gives more or asks more, he has dealt in usury. But there is no harm in selling gold for silver and silver (for gold), in unequal weight, payment being made on the spot. Do not sell them if they are to be paid for later. There is no harm in selling wheat for barley and barley (for wheat) in unequal measure, payment being made on the spot. If the payment is to be made later, then do not sell them.
Abu Dawud said: This tradition has also been transmitted by Sa'id b. Abi 'Arubah, Hisham al-Dastawa'i and Qatadah from Muslim b. Yasar through his chain.
Hadith on Riba al-Fadl
The Messenger of Allah (ﷺ) said: Gold is to be paid for with gold, raw and coined, silver with silver, raw and coined (in equal weight), wheat with wheat in equal measure, barley with barley in equal measure, dates with dates in equal measure, salt by salt with equal measure; if anyone gives more or asks more, he has dealt in usury. But there is no harm in selling gold for silver and silver (for gold), in unequal weight, payment being made on the spot. Do not sell them if they are to be paid for later. There is no harm in selling wheat for barley and barley (for wheat) in unequal measure, payment being made on the spot. If the payment is to be made later, then do not sell them.
Scholarly Commentary
This hadith from Sunan Abi Dawud 3349 establishes the fundamental principles of Riba al-Fadl (excess usury) in commercial transactions. The Prophet (ﷺ) identifies six specific commodities: gold, silver, wheat, barley, dates, and salt that are subject to special rules when exchanged for the same type.
The ruling requires three conditions for permissible exchange: 1) Equal measure or weight for identical commodities 2) Immediate hand-to-hand exchange 3) No delay in payment. When exchanging different ribawi commodities (like gold for silver), unequal measure is permitted provided the exchange is immediate.
Classical scholars explain that these commodities represent mediums of exchange (gold/silver) and staple foods, thus their regulation prevents hidden usury. The prohibition of deferred payment eliminates Riba al-Nasi'ah (usury of delay), ensuring fairness in transactions.
Legal Implications
This hadith forms the basis of Islamic commercial law regarding currency exchange and commodity trading. Modern applications include foreign exchange transactions, which must be spot transactions without delay, and trading of precious metals which must follow the equal-weight principle when exchanging like for like.
The wisdom behind these regulations is to prevent exploitation, maintain justice in trade, and eliminate ambiguous transactions that could lead to disputes or unfair enrichment.