Fatwaa ID: 469
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
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
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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