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His statement (may Allah be pleased with him) also supports our interpretation of his report: “You claim that we know the forms of usury. I would rather know them than possess the equivalent of Egypt and its districts. Yet some forms are hidden from no one: selling fruit while it is still immature and unripe, and exchanging gold for silver or silver for gold on a deferred basis.”
He thus explained (may Allah be pleased with him) that some forms of usury are plain and evident because the Prophet (peace and blessings be upon him) expressly addressed them, while others are hidden and obscure because no explicit text addresses them. He wished that all forms of usury were manifest and clear, known to him through explicit statements of the Prophet (peace and blessings be upon him), without any need to seek evidence concerning them.
Since Allah, Mighty and Majestic, willed to test and try His servants, He made the paths to knowledge differ: some knowledge He made manifest and clear, and some hidden and obscure, so that the latter might be understood from the former through independent reasoning and reflection. Thereby He raises in rank those who believe and those who have been granted knowledge. Allah, Mighty and Majestic, says:
“It is He who has sent down to you the Book. In it are verses that are clear and precise—they are the foundation of the Book—and others that are open to interpretation.” [Āl ‘Imrān: 7]
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Usury takes two forms: usury in immediate exchanges and usury in deferred exchanges. Usury in immediate exchanges occurs only when exchanging a single kind of commodity within either of two categories: (the first) gold and silver; (the second) foods that can be stored and serve as staples or improve staple foods, generally forming a basis of subsistence, according to some scholars.
Usury in deferred exchanges, however, occurs both when exchanging commodities of the same kind and when exchanging two different kinds. As regards commodities of the same kind, it applies to everything whatsoever: it is not permissible to exchange one unit for two of the same kind