with a specified delivery date.”

As for valuing a commodity at its cash price and then selling it on deferred payment for more than that, this is prohibited according to the sounder of the two scholarly opinions. As Ibn ‘Abbās said:

“If you value it at a cash price and then sell it for cash, there is no harm. But if you value it at a cash price and then sell it on deferred payment, that is dirhams exchanged for dirhams.”

By “value it,” he meant appraise it. And Allah knows best.

He was asked:

A woman buys cloth for immediate payment and sells it at a one-third markup, with payment deferred until a specified date. Is this usury?

He replied:

Praise be to Allah, Lord of all worlds. If the buyer purchases it to use it or trade in it—not to sell it and obtain the proceeds because he needs the money—there is no harm in that. However, if the buyer is in need, the seller should charge him only the customary profit. And Allah knows best.

He was asked:

Is it permissible to sell one sheep for another, with delivery deferred until a specified date?

He replied:

It is permissible to sell one sheep for another, with delivery deferred until a specified date.