Berurus niaga dengan emas

Last Saturday my wife and two of my neighbour kak bee and kak mah went to a house of a small time dress trader (while I locked myself in a room to finish up my assignment which nerly to due). Both of my neighbour went there to pay their debt (monthly instalment and my wife just want to look up the dress. This trade sell many things according to my wife, including dress, baju kurung, headscarf and many other. My wife also said that this trader also sell gold jewellery. The trader persuade my wife to buy the gold jewellery even offering by paying in monthly instalment.

Then it come out in my mind almost instantly the rule of shariah regarding gold trading and transaction which I learn when iwas in the Fiqh class at university and the article I read recently. Many of us in this society doesn’t realize the ruling in Islam has outlined regarding transaction involving gold.

In our society, to buy a gold in monthly instalment is almost a common thing which happen everyday. They feel that gold jewellery is precious commodity and don’t mind paying in instalment. Almost all the time when they still pay the monthly instalment, the possession of the gold jewellery still at the trader. And only after they finih paying the whole price of the gold the will get it. What is the hukum regarding this transaction. Majority schools of thought (jumhur ulama’) regard this transaction is haram. This because transaction involving gold need to be concluded on the spot, meaning that the exchange need to be done in one majlis and should not be postponed. This refer to Arabic term “taqabud”. Gold is regarded as ribawi item. Therefore buying gold in deferred payment has created riba. So how can people can buy gold if it is to be pay the whole price. The answer is planning and saving. This behaviour should be in muslim.

Another issue is, lot of us buying gold jewellery in trade in mode of transaction. Where if you already have a gold jewellery and want to buy a new one by forgoing the existing one. Normally people will go to jeweller shop and ask them to value her gold jewellery. Then she will choose and pick new gold jewellery in display. The transaction concluded when the customer paying the different of the new gold and the old one (usually the new one will price more). This transaction also in the view of shariah is haram because of the element of “tafadhul” or additional. The hukum of gold transaction must be in the same weight. If you want to exchange gold, it must of the equal weight, should not more or less.

So what to do if you want trade in your gold? The answer was given by Prophet in a popular narration about Bilal Bin Rabbah buying tamar (remember tamar also regarded as ribawi item). One day Bilal come to prophet and offer him a hugh quality tamar. Then prophet asked Bilal, “how did you get this tamar?” Bilal said he has exchanged 2 kilo (or what ever the measurement mentioned in the narration) of poor quality tamar with I kilo of high quality tamar. Then prophet replied,”you should’ve sell the tamar first and buy the high quality tamar with that money”.

Now we have the solution for it. When you wanted to trade in a gold, you should sell it first completely and get the money. Only then you can buy another new gold jewellery.

* note that there is minority group of ulama in the view that the hukum of gold transaction is not applied to the transaction of gold jewellery because the function of the gold has changed.

Ibrahim – 7/4/2008

You can also read about buying gold in monthly instalment here http://www.zaharuddin.net/index.php?option=com_content&task=view&id=286&Itemid=93