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Essay: Conditions for Trading in Islam

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Sample Essay

These conditions are concluded from (IbnQdamah, 1997) (Albhuty, 1994) (Gla’ahgy, 2001).

1-      The parties should have legal capacity and are not bedlam or something like that. To be adult in Islam is the age 15.

2-      The parties should trade with mutual consent.

3-      The object involved in the trade should be allowable in Islam,

4-      The object should be owned by the seller. Because the propjet Mohammad (prayers and peace of Allah be upon him) said “do not buy what do not own” (Alshokany, 2002).

5-      The object should be capable of being delivered or handed. If not, this will be Gharar (risk, hazard) which is not allowable in Islam (D. Abdulah Almusleh and D. Slaah Alsawy, 2001), the prophet Mohammad (prayers and peace of Allah be upon him) (forbidden buy by stone and gharar or hazard) (Alhjaj, 1954).

6-      The object should be known to both parties.

7-      The price for the object should be known to both parties.

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