Seadet-i Ebediyye - Endless Bliss Fifth Fascicle

A.D.], Egypt,) states in his commentary to Ghurer [1] : “In a sale
whereby naqdeyn are sold for one another, it is a condition
stipulated by the Nass (âyat-i-kerîmas and hadîth-i-sherîfs with
clear meanings) that both the item sold and the one given in return
should be taken possession of (by the buyer and the seller,
respectively). Although the fulûs (coins minted of metals other
than gold and silver) [and paper bills] also serve as the themen (in
a sale), they are, like urûz, in the category of qiyamî property.
They are not included in the condition imposed by the Nass.
Therefore, the sale will be sahîh when only the fulûs or the themen
for which it is to be exchanged has been taken possession of. If
neither one is taken possession of, the sale will be one whereby a
deyn has been sold for another deyn, which in turn is a sale that is
bâtil.” When fulûs are sold in return for the same number of other
fulûs, which means to have paper bills changed, both of them have
to be taken possession of before parting. [For, in this instance one
of the two conditions of fâiz exists because they are of the same
kind and that in turn makes a sale on credit harâm. If one of the
two parties does not have the wherewithal to fulfill his part in the
transaction, the other party lends him, so that he will pay his debt
when he finds the money. As is written in the passage where the
subject of ‘fâiz’ is dealt with, the fulûs being exchanged will no
longer be themen if their numbers differ. Although it would be
permissible to change a hundred lira bill by giving currency of
lesser value in return, it would in effect mean to exploit someone’s
need by buying his property for a price below its value, which is a
malpractice termed makrûh.] It is stated in the book entitled
Fatâwâ-i-Hindiyya: “Supposing you are buying fulûs by giving
silver in return and the seller does not carry any fulûs; it will be
permissible for the seller to take the silver, leave the place, borrow
the fulûs from someone else, and give it to you. [For, it will not be
a sale with fâiz.] It would be permissible as well to take the fulûs
before parting and give the silver afterwards.”
[1] The book entitled Ghurer was written by Muhammad bin
Muhammad bin Ahmad Hâkim-i-Shehîd ‘rahmatullâhi ta’âlâ ’alaih’,
(martyred in 334 [946 A.D.].) Also, Molla Husrev (or Husraw)
Muhammad Efendi ‘rahmatullâhi ta’âlâ ’alaih’, (d. 885 [1480 A.D.],)
the third Ottoman Shaikh-ul-islâm, wrote a book entitled Durer wa
Ghurer. Shernblâlî’s commentary to that valuable book, (i.e. to the
former one,) was printed in Istanbul in 1319 [1900 A.D.].
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