Hadith 2187

Commentary

The explanation of the prohibited form is if the seller does not have the commodity but he receives a fixed price in advance, and promises that when he will have the commodity available he will give it to the buyer. It is unknown if he will have that commodity, and even if he does, the buyer may not like it; or perhaps the commodity is of a low quality compared to the price the buyer has paid in advance. It will cause a dispute and argument between the two parties, so this form of transaction is unlawful. b. The purchase of an unspecified thing is also included in the aforementioned unlawful trade; for example: a person says, before throwing a net into the river; "Whatever number of fish get trapped in the net, I shall sell them to you for such and such a price." Despite the fact that it is unknown whether there will be many or few fish in the net, or if they will be small or large. Therefore, the deal can only be made once the fish are out of water. The uncertainty of the deal makes it unlawful. (See: Ahâdith: 2194-2195) c. If the type, quantity and quality of the commodity is determined, and the time of delivery is appointed, then to pay a price in advance and to collect the commodity later at the appointed time is permissible. It is called Salam or Salaf (absolute interest free credit). (See Ahâdith: 2280-2282)