Abu Sa'id al-Khudri reported God’s Messenger as saying, "Gold is to be paid for by gold, silver by silver, wheat by wheat, barley by barley, dates by dates, and salt by salt, like for like, payment being made on the spot. If anyone gives more or asks more he has dealt in usury. The receiver and the giver are equally guilty.” Muslim transmitted it.
The Prohibition of Riba in Business Transactions
This hadith from Sahih Muslim, as compiled in Mishkat al-Masabih 2809, establishes the fundamental Islamic ruling against usury (riba) in specific commodity exchanges. The Prophet Muhammad (peace be upon him) explicitly forbids any form of interest or excess in these six specified commodities when traded for their own kind.
Scholarly Commentary on the Six Commodities
The six commodities mentioned - gold, silver, wheat, barley, dates, and salt - represent two categories according to classical scholars. Gold and silver represent monetary values and currency, while the four food items represent staple measurements. These were the primary mediums of exchange and essential goods in the Arabian economic context.
Imam al-Nawawi explains that these specific items were mentioned because they were the most commonly traded commodities, and the ruling extends by analogy (qiyas) to other items sharing the same underlying cause ('illah).
Conditions for Permissible Exchange
The hadith establishes two essential conditions for trading these commodities: exact equivalence (like for like) and immediate exchange (payment on the spot). Any deviation from these conditions constitutes riba.
Ibn Qudamah al-Maqdisi states in al-Mughni that when trading gold for gold, or wheat for wheat, the quantity must be exactly equal and the exchange must be hand-to-hand without delay. If the items differ in quality, this does not justify inequality in measure.
Equal Guilt of Participants
The concluding statement "The receiver and the giver are equally guilty" emphasizes the shared responsibility in avoiding usurious transactions. Both parties bear sin regardless of who initiated the excess, demonstrating that Islamic business ethics require mutual vigilance against exploitation.
Al-Qurtubi comments that this equal culpability serves as a strong deterrent, ensuring that Muslims do not become accomplices in usurious practices whether as beneficiaries or facilitators.
Contemporary Application
Modern scholars extend these principles to contemporary currencies and commodities. Paper money and digital currency fall under the ruling of gold and silver, requiring immediate exchange of equivalent value when trading the same currency. The underlying wisdom prevents exploitation and ensures fairness in all business transactions.
This prohibition forms the foundation of Islamic finance, ensuring that exchanges remain fair and free from the injustices of usury, which Islam considers destructive to society's economic and moral fabric.