The ruling on whoever sold used Gold and did not receive the Price, and then he purchased new Gold while just paying the Difference
Question :
What is the ruling concerning whoever sold gold to the owner of a shop, and then he bought other gold from the owner of the shop with an amount close to the amount for which he sold his gold to him, for example? Then he pays the shop owner the value of the gold that he bought from the value of the gold that he sold to him while not actually receiving the money for his gold.
Answer:
This is not permissible, because if he sold something for a price that he did not receive, and then he took something in place of its price that it is not permissible to sell on credit, the Fiqh scholars have clearly declared this to be forbidden. This is because he has taken a means of deception to sell what is not permissible to sell on credit by this method of not receiving payment. If it (the gold) is of the same type, it becomes a deceitful way of practicing Riba Al-Fadhl and Riba An-Nasi'ah.
Source:
Ash-Shaykh Ibn 'Uthaimin
Fatawa Islamiyah, Vol. 4 Page 400
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