Islamic Ruling on Buying Gold Online & Installments

Islamic Ruling on Buying Gold Online & Installments

Ruling on Buying Gold & Jewelry Online and Paying in Installments

At Golden Rings Store, we care about the comfort of our customers and offer them a cash-on-delivery option. This means paying for the item directly upon receiving it from the delivery agent, which clearly fulfills the Sharia requirement of hand-to-hand possession.

If you prefer to pay in advance via bank transfer or electronic payment methods, we adhere to the following to ensure the transaction complies with Islamic rulings:

  • The amount transferred is considered a temporary deposit until the item is handed over to the delivery company.
  • Once the delivery company receives the item from our store, it acts as your agent in receiving it on your behalf.
  • Thus, the Sharia requirement of possession is met as soon as the gold is handed over to the delivery company, and the transferred amount becomes a completed payment.
Ruling on Buying with Installments

In our store, sales are conducted through QPay in a manner fully compliant with Islamic Sharia. QPay pays us the full price of the gold or silver immediately at the time of purchase, and we deliver the items directly to the customer. The customer then repays QPay in installments at the same listed price, without any increase or interest, while Golden Rings bears the service fee charged by the company. Thus, the transaction is Sharia-compliant, free from riba and other prohibitions, God willing.