The Lajnah (Permanent Committee For Scholarly Research And Ifta’) were asked:
Question:
Is it permissible to buy or sell gold in return for bank checks? It should be noted that the amount transferred is deposited in full at the bank, as the buyer can not carry money with him during the purchase. Likewise, the seller can not take it from the buyer while selling a number of (gold) bars, especially as sometimes the amount reaches millions of Riyals, and they fear for their safety and their money while carrying it.
Answer:
There is no wrong in this, for the receipt of the check has the same ruling as receiving the price, if the check is approved by the bank.
May Allah grant us success. May peace and blessings be upon our Prophet Muhammad, his family, and Companions.
Mentioned by
AbdulFattaah Bin Uthman
Abu Fajr
