Law Saving Gold at Mortgage

How does the Law of Gold Saving at Mortgage?

The scheme is less than the following, customers deposit funds with a minimum balance to open savings, worth 0.1 grams of gold. Furthermore, customers can pay any amount. And if the customer wants to print or take the gold bars that he saved, he must have a balance of the minimum amount of gold bars 5 gr, and a printing fee will be charged.

In addition, customers will be charged an initial administration fee of Rp.10,000 and a deposit facility for 12 months amounting to Rp30,000.




Answer:

Bismillah was shalatu was greetings' ala Rasulillah, wa ba'du,

Gold and money used to buy gold, including the one Riba'wi things (background), because both are the medium of exchange (muthlak tsamaniyah).

From Ubadah bin Shamit radhiyallahu 'anhu , the Prophet sallallaahu' alaihi wa sallam said,



You can pay attention to the last sentence,



"If the items exchanged are different, then the dosage may be as you wish, provided cash. "




When we buy gold, it means there is an exchange of money with gold. And these are two different usury objects, but one group, and in the above hadith, the Prophet sallallaahu 'alaihi wa sallam requires that it be done in cash.

In the decree of Majma 'al-Fiqh al-Islami stated,


If the exchange of money with gold is done NOT in cash, it violates the prohibition of nasiah usury (Riba' Nasiah).

Saving Gold at Mortgage
From the scheme presented above, there are 2 stages of the contract that occur:

[1] Gold sale and purchase contract

The gold sale and purchase contract is permissible, as long as it's done in cash. Therefore, if the pawnshop/mortgage only provides 5gr bullion gold, the customer who wants to buy gold must provide enough money to redeem the 5gr gold. That is, this 5gr gold must be purchased in cash.

If the customer does not have sufficient funds worth 5gr gold, it is certain that he will buy the 5gr gold in cash (in installments). Moreover, the pawnshop company received installments worth at least 0.1gr gold.

As an illustration,

If the price of gold is Rp,-500 / gr, it means that the customer who wants to buy gold in cash, he must have Rp,-2500 of funds. So that Rp,- 2500 in exchange for 5gr gold in cash.

If the customer pays in installments, for example, Rp,-50 / day, it means there is an exchange of gold with money NOT in cash. And this is a prohibited law, including usury nasiah.

[2] Wadiah contract (item entrusted)

Customers may leave their gold in a pawnshop/mortgage, according to the provisions in there. And pawnshops/mortgage may set administrative fees for this contract. Pawnshops/mortgage are entitled to wages because they have provided safekeeping services.




The conclusion

The scheme to save(Buy not in cash) gold in a pawnshop/mortgage includes a problem contract, because there is a Riba' nasiah, which is the purchase of gold on credit. The solution that we provide, the gold purchase service is only valid for customers who can buy gold in cash, and not installments.

Allahu a’lam.



This post Link (For references): 
https://yourdakwah.blogspot.com/2018/10/saving-gold-at-mortgage.html

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