Indonesian Council of Ulama Fatwa No. 77 of 2010 on Non-Cash Sale-Purchase of Gold

This fatwa acknowledges that the relevant ulama could not agree as to whether or not the sale or purchase of gold in instalments was permissible in Islam. The fatwa does, however, determine that the non-cash sale and purchase of gold, either through normal sale-purchase methods or murabahah sale-purchase, is permissible under shari'a, provided gold is not used as an official currency.

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