although it is disapproved for him, lest it provide others with a means of engaging in usury. Most scholars uphold both sales as outwardly valid, do not suspect the contracting parties of wrongdoing, and do not recognize the blocking of such means as a basis for judgment.

Likewise, if a man sells a commodity for a price payable at a specified date, then buys it back from the purchaser at a higher price payable at a later date, both sales are rescinded according to Ibn al-Mājishūn. According to Ibn al-Qāsim, only the second is rescinded while the commodity remains intact, unless he stipulates that the first price be offset at the first due date and that he collect the balance of the second price at the second due date.

If, however, he buys it back with payment due on the same date as in the original sale, that is permissible, and the law requires the two debts to be offset when payment falls due. Until they are offset, each party remains liable to the other for the price he owes. According to Ibn al-Qāsim, if either becomes insolvent, the other has no priority over his counterpart’s other creditors in respect of the amount he himself owes. According to Ashhab, however, he does have priority in respect of that amount.

Thus, under Ibn al-Qāsim’s position, if the first buyer—who is the second seller—becomes insolvent, his creditors share proportionately with the second buyer—who is the first seller—in the sum owed by the latter. They collect from him whatever falls to them in that apportionment. If the second buyer—who is the first seller—becomes insolvent, the first buyer—who is the second seller—has the prior right to reclaim the commodity, unless the creditors choose to pay him its price. Success comes only through Allah, Glorified and Exalted is He.

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It has already been explained that dealers in ‘īna transactions are subject to suspicions that do not attach to those who conduct sound transactions, because they engage in disapproved dealings and regard them as permissible.

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‘Īna transactions take three forms: permissible, disapproved, and prohibited. The permissible form is for a man to pass by a dealer in ‘īna and ask him, “Do you have such-and-such a commodity that I could buy from you?” He replies, “No,” and the man leaves without any negotiation or mutual promise. The dealer then purchases the commodity about which the man had asked. Later, he meets him and tells him that he has purchased it, and sells it to him for whatever price he wishes, whether for immediate or deferred payment;