54 chapter two
Ribàis called Ribàal-fadle—Ribàresulting from an increase in
quantity of the same object in a transaction of an immediate
delivery. For example, exchanging gold for gold or wheat for
wheat. The exchange should not be at an increase. See further
example below.
(b) Ribàthat results from exchanging an object, of a commodity,
with another object of the same type or another, same or another
commodity, with a delayed delivery, future delivery. This type of
Ribà is called Ribà al-Nasì"a—Ribàresulting from an increase
in quantity of the same or different object, commodity, in a trans-
action of a postponed, future, delivery. For example, exchanging
gold for gold or wheat for wheat future delivery. The exchange
should not be at an increase. Further examples are cited below.
Stating the prohibition of commodity Ribà, the Prophet is reported
to have clarified the exchange conditions which should be satisfied
in order to avoid this Ribà by saying, “Gold for Gold, equivalent
for equivalent; silver for silver, equivalent for equivalent; wheat for
wheat, equivalent for equivalent; barely for barley, equivalent for
equivalent; salt for salt, equivalent for equivalent; dates for dates
equivalent for equivalent; and whoever exceeds or asks for excess,
he practiced Ribà. Sell gold for silver as you wish if it is hand to
hand (prompt delivery) and sell barely for dates as you wish if it is
hand to hand” (flaœìœMuslim).
From these sayings of the Prophet, and other sayings, the follow-
ing general rules that govern commodity Ribàhave been concluded
(Al-Qusi, 1982):
- When trading metal for metal and food for food (e.g. gold for
gold or wheat for wheat), two conditions must be fulfilled: (a) the
quantitative equality of both objects and (b) prompt delivery. - When trading metal for metal or food for food of two different kinds
(e.g. gold for silver or wheat for barely) one condition should be
met: the promptness of delivery (equality is not a required condition). - When trading metal for food (gold or silver for wheat or barely)
neither condition is required. The transaction is fulfilled through
free trade.
The rationale behind the above restrictions seems to lie in discour-
aging barter transactions in favour of monetary transaction. It is