Is it permissible to exchange a silver ring set with a gemstone for another silver ring?

Question

The question addresses the permissibility of exchanging a silver ring adorned with a gemstone for another silver ring. The response includes insights from two prominent Islamic scholars regarding the rules of such exchanges and the implications of usury (riba). [AR_ID:5686]

Answer 1

Peace be upon you.

It is permissible to exchange two silver items without any difference in value. However, if there is a difference in value, it is not allowed. To avoid usury in cases of equivalent items with a difference, one can add something to the lesser item. For instance, to avoid the prohibition of exchanging equivalent items with a difference, one can add the gemstone to the silver when exchanging it for a less valuable ring.

Grand Ayatollah Sayyid Khamenei (may Allah protect him):

It is permissible to exchange silver items without any difference in value, but it is not allowed if there is a difference.

To avoid usury in cases of equivalent items with a difference, one can add something to the lesser item. For example, if one wants to avoid the prohibition of exchanging equivalent items with a difference, they can add the gemstone to the silver when exchanging it for a ring of lesser value.

Source: Special Inquiry: 1, 2.

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Grand Ayatollah Sayyid Sistani (may Allah protect him):

Usury is forbidden.

There are two opinions on whether its prohibition is limited to sales or applies to other exchanges as well. The correct view is that it is specific to exchanges between items, whether in sales, swaps, or settlements. For example, if one says: (I settle with you that this ten of yours is equal to this five of mine), it is valid. However, if the exchange is not between items, such as saying: (I settle with you that you gift me that ten and I gift you this five), or (I forgive you the five you owe me on the condition that you forgive me the ten I owe you), it is considered valid.

To avoid usury, one can add a non-similar item to the lesser side, such as selling one hundred kilos of wheat and a handkerchief for two hundred kilos of wheat if they intend for the handkerchief to represent the excess amount and the transaction is cash. It is also valid to add a non-similar item to both sides, even with a difference in value, as if one sells two handkerchiefs and two hundred kilos of wheat for one handkerchief and one hundred kilos of wheat, and the transaction is valid if they intend for the handkerchief on each side to represent the wheat on the other side. It is also valid in cash if they intend for the handkerchief from the lesser side to represent the two handkerchiefs and the excess amount of wheat on the other side.

Source: Minhaj al-Salihin - Vol 2, Chapter 9, Issue 231.

May you be successful in all good.