Buying gold on credit
Category:
Business Dealings & Money Matters
According to Madhhab:
Hanafi
Reference:
1440-126
Question:
A person buys gold coins from a gold broker/dealer. He deposits the money into the dealer's account and collects the coin at a later stage, perhaps a day or two later. Is this correct? Is it necessary to take possession of the coin immediately?
Answer:
This will be correct. It is not necessary to take possession of the gold coin immediately. (Shaami Vol. 5 Pg. 179)
AND ALLAH TA'AALA ALONE IN HIS INFINITE KNOWLEDGE KNOWS BEST
ANSWERED BY: Sohel Randera
CHECKED AND APPROVED BY: Mufti Muhammed Saeed Motara Saheb D.B.
Islamic Date:14 Rabi'ul Awwal 1440 - English Date: 22 November 2018