Assalam alaikum. I sold my gold jewelry for a big amount with delay in payment. I requested them to give me cheque but they said they don't do that. They said the online payment process will be started and I will receive payment in 2 to 3days. They gave a purchase bill. I was aware of the ruling of delayed payment. What will be the ruling on this money? Is it completely haram for me? Iam very ashamed of myself. I will never do this again. Please advice me. The transaction cannot be reversed.

All perfect praise be to Allah, The Lord of the Worlds. I testify that there is none worthy of worship except Allah, and that Muhammad is His slave and Messenger.

The Majority of Muslim jurists are of the view that selling jewelry - manufactured gold - for banknotes (paper money) with a delay in payment is not permissible, and it takes the same ruling as that of unmanufactured gold, based on the hadeeth: “Do not sell gold for gold except like for like, do not sell what is not present at the moment of exchange for what is present.” (Agreed Upon) Paper money comes under the same ruling as gold.

Other Muslim jurists held that selling jewelry - manufactured gold - for cash with a delay in payment is permissible because the manufacturing takes it out of the category of gold and what comes under the same heading as it becomes a commodity that could be bought and sold on the spot or with a delay in payment. This opinion was held by Sheikh al-Islam Ibn Taymiyyah and Ibn al-Qayyim and it is attributed to Muawiyah, Al-Hasan, Ibrahim, Ash-Sha'bi and was also the view of a group of Hanbalis.

If you had known that, it would have been safer for you not to sell your gold jewelry for cash with a delay in payment, based on the view of the Majority of jurists. However, since the sale transaction has been completed, you may consider the other view that selling jewelry for cash with a delay in payment is permissible, especially when it is impossible to cancel the sale of the jewelry.

Allah knows best.