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The Definition Of Riba
“Respected Ghamidi Sahab,
Some Islamic scholars extend the definition of Riba beyond interest-based transactions to include unequal exchanges in barter trade. They refer to the hadith of Bilal (RA), in which he exchanged low-quality dates for high-quality dates in an unequal ratio, and Prophet Muhammad (PBUH) warned him that this was Riba. The Prophet (PBUH) advised him to first sell the low-quality dates for money and then use that money to buy the high-quality dates.
Given this hadith, do you believe that Riba includes all forms of unequal exchanges, or is it specifically related to loan transactions involving interest? How should we understand this hadith in light of the Qur’anic definition of Riba?”
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The Definition Of Riba
updated 1 week, 3 days ago
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It is Riba when it is a loan transaction, not on the spot. The principle is described in the following Hadith:
الْوَرَقُ بِالذَّهَبِ رِبًا إِلَّا هَاءَ وَهَاءَ وَالْبُرُّ بِالْبُرِّ رِبًا إِلَّا هَاءَ وَهَاءَ وَالشَّعِيرُ بِالشَّعِيرِ رِبًا إِلَّا هَاءَ وَهَاءَ وَالتَّمْرُ بِالتَّمْرِ رِبًا إِلَّا هَاءَ وَهَاءَ
If you lend gold in exchange for silver, then there is a possibility of interest in this. Similarly, for wheat in exchange for another type of wheat, barley in exchange for another type of barley, date for another type of date. Indeed if the exchange is done on the spot, then there is no harm. Muslim,Al-Jami‘ al-sahih, 692, (no. 4059).
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