Rulings for Renting Gold Jewelries

Rulings for Renting Gold Jewelries

Today, the gold business is not limited in trading only, but also has expanded into renting it as well. Some people were fond of wearing different jewelries on various occasions, but hesitated to buy and keep it themselves, due to the safety issues, their hobby to wear different jewelries, and financial issues. Is it permissible in Islam to practice such renting?

Regarding this problem, there was a fatwa issued by the scholars who were members of the Standing Committee for Fatwa (Lajnah Daimah), which stated : “After the committee examined the matter of question about the renting of gold jewelries, the committee would like to answer it as follow: Principally, it is allowed to rent the gold and silver jewelries with gold  or silver currency, or other exchanging tools, as long as the fee and the time period of renting are definite. After the period expired, the renter should return the jewelries that he or she has rented before. It is also alright to ask for a mortgaged stuff or a guarantee for this interest.”

This fatwa was signed by Sheikh Abdul Aziz bin Abdullah bin Baz, SheikhAbdul Aziz bin Abdullah alu Syaikh, Sheikh Shalih bin Fauzan al Fauzan, and Sheikh Bakr bin Abdullah Abu Zaid. (Fatwa of Lajnah Daimah episode : 15 Page no. 80, fatwa no. 19570).

Author:   Ust. Aris Munandar, S.S., M.PI.
Article of www.syaria.com

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This article is informative, thanks. By the way, how about renting Gold bar? Is it same fatwa as Gold jewelries?

TQ

Darul

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