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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

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