Allah's Messenger (ﷺ) said, "Don't sell gold for gold unless equal in weight, nor silver for silver unless equal in weight, but you could sell gold for silver or silver for gold as you like."
Hadith Text
Allah's Messenger (ﷺ) said, "Don't sell gold for gold unless equal in weight, nor silver for silver unless equal in weight, but you could sell gold for silver or silver for gold as you like."
Reference: Sahih al-Bukhari 2175 | Book: Sales and Trade
Explanation of Riba al-Fadl
This hadith establishes the prohibition of Riba al-Fadl (excess interest) in specific commodities. Gold and silver represent the primary monetary standards in Islamic law, and their exchange must follow strict equality in weight when traded for the same type.
The wisdom behind this prohibition is to prevent any hidden usury that might occur through unequal exchange of the same commodity, which could be exploited to circumvent the prohibition of interest.
Conditions for Exchange
When exchanging gold for gold or silver for silver: Must be equal in weight and hand-to-hand (simultaneous exchange). No delay is permitted.
When exchanging gold for silver or vice versa: The exchange may be unequal in weight due to different market values, but must still be hand-to-hand without delay.
Scholarly Extension
The scholars of Islam have extended this ruling to other commodities mentioned in similar hadiths: dates for dates, wheat for wheat, barley for barley, and salt for salt. These six commodities form the basis for understanding Riba al-Fadl.
This ruling ensures justice in commercial transactions and prevents exploitation, maintaining the purity of economic exchanges in accordance with divine guidance.