Selling the used gold in return for new gold


A: You may sell the used gold which you want to exchange for new and receive its price on the spot and then make your purchase from the same store or another and pay the price on the spot provided that you do not part while there are any outstanding accounts between the both of you.May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.

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Bank loans

Riba and money exchange
Banks abroad deduct a ratio on the deposited sum

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Non-Islamic commercial banks which issue loans with interest

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Buying gold with money that is minted in all countries in installments

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Letters of credit as a standard banking practice

Riba and money exchange

Exchanging currency and adding what one spends in this regard

Riba and money exchange

Selling the used gold in return for new gold

Riba and money exchange