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Fatwa ID: 85510
Title: Buying Gold Online and Having it Shipped to Me
Category: Financial Transactions
Scholar: Dr. Main Khalid Al-Qudah
Date: 09/16/2011

Question

Assalamu alaikum, Is it permissible for me to purchase gold online via bank wire transfer and then have the gold shipped to me two weeks later?


Answer

Alhamdu Lillah

One of the conditions for the validity of trading in gold is (mutual & immediate submission). This means that gold has to be given to the other contracting party while contracting. However, if that is not possible due to the long distance between the two parties, the transaction is valid only when the gold is shipped immediately to the buyer, even if this takes weeks, as long as there is no intentional delay.