Shaikh Salih al-Fawzaan hafiduhallah was asked:
Question: In regards to the Merchandise that is bought over the internet. The payment is also made over the internet through a money-exchange. Is the transaction valid?
Answer: “The origin of a transaction is that it occurs in a sitting. A sitting between a seller and buyer. However, if you know the seller, you hear his voice, and the agreement is made and you are certain he is the one you know, then the transaction occurs. This is a majlis Hukmi. As for receiving the payment, you can receive it in by any means. Yes”.
[https://www.youtube.com/watch?v=oFX4SOcY9L8]
Shaikh Ibn ul-Uthaymeen rahimahullah had a different view.
Question: Oh Virtuous Shaikh, a new affair has emerged and it is investing over the computer. That is the stocks of the companies are displayed on the screen of the computer. So a person buys and sells through the banks over this screen with prices he wants because there is a list of the prices for the stocks of the companies. It is connected to a number of markets. What is the ruling on buying and selling through this screen?
Answer: “As for what is required to possess in order for the sale to be valid, then buying and selling over this screen is not allowed because their is no possession. As for what does not require possession, then it needs something else and it is knowledge of the item on sale. Is the item for sale displayed on this screen and examined? Another thing remains: ability for delivery. If you requested what you bought to be delivered, is that possible? So like this we see that a person not do this transaction and we do not say it is haram except what the legislation necessitates as haram like selling what is necessary to [first to] possess or selling something unknown or selling something which it is not possible to deliver. Verily it is haram because Allah the Exalted said:
وَأَحَلَّ اللَّهُ الْبَيْعَ وَحَرَّمَ الرِّبا
Allah has permitted trading and forbidden Riba (usury)
[2:275]
In the Saheeh:
أبي هريرة رضي الله عنه: أن النبي عليه الصلاة والسلام نهى عن بيع الغرر
Abu Hurairah (may Allah be pleased with him) said:The Prophet (ﷺ) forbade the type of sale which involves risk (or uncertainty)
[Liqaa Shahri no. 31]
Translated by
Faisal Ibn Abdul Qaadir Ibn Hassan
Abu Sulaymaan
