Wednesday, October 4, 2023
No menu items!

Selling gift cards for more than their value

Fatwaa ID: 469

Question:
Assalamualaikum

Muftian kiraam

Zaid bought a Walmart gift card for $50.
Can he sell it to Khalid for $55? Would that be considered as riba?

Ajeebu wa tujaroo

Answer:
In the Name of Allaah, the Most Gracious, the Most Merciful.
As-salaamu ‘alaykum wa-rahmatullaahi wa-barakaatuh.

A gift card which has been loaded with cash is regarded to be a form of money/currency. Hence, it will not be permissible for Zaid to buy or sell such a gift card which has monetary value for a price other than its loaded value. It must be purchased or sold for its par value. A different rate will be deemed ribaa.

And Allaah Ta’aala knows best.
Mufti Muajul I. Chowdhury
Darul Iftaa New York
https://askthemufti.us/

07/04/1444 AH – 01/26/2023 CE | AMG1-2348

وصل اللهم وسلم وبارك على سيدنا محمد وعلى ءاله وصحبه أجمعين

__________________
Disclaimer

Darul Iftaa New York answers questions on issues pertaining to Shari’ah. These questions and answers are placed for public view on askthemufti.us for educational purposes. The rulings given here are based on the questions posed and should be read in conjunction with the questions. Many answers are unique to a particular scenario and cannot be taken as a basis to establish a ruling in another situation. 

Darul Iftaa New York bears no responsibility with regard to its answers being used out of their intended contexts, nor with regard to any loss or damage that may be caused by acting on its answers or not doing so.

References and links to other websites should not be taken as an endorsement of all contents of those websites. 

Answers may not be used as evidence in any court of law without prior written consent of Darul Iftaa New York.