Bai’ Al-Salam

1) lbn ‘Abbas reported that when Allah’s Prophet (Sall Allah-o-alaihe wa sallam) came to Medina, they were paying one and two years in advance for fruits, so he said: “Those who pay in advance for anything must do so for a specified measure or for a specified weight and for a definite time.”

Ibn ‘Abbas reported that when Allah’s Messenger (Sall Allah-o-alaihe wa sallam) came to (Medina) and the people were paying in advance (for the fruits, etc.) he said to them: “He, who makes an advance pay­ment, should not make advance payment except for a specified measure and weight.”

2) Ibn ‘Umar reported that a person advanced money to another per­son for the purchase of date-palm trees (before they had borne fruits). That year the trees did not bear any fruit. Both of them brought their dispute to the Prophet (Sall Allah-o-alaihe wa sallam) who said (to the sel­ler): For what have you made his money lawful for yourself; return his money back to him. Then he said: “Don’t enter into future bargains of date-palm fruits until the fruit has become clearly in good condition.”

Source: Economic Teachings of Prophet Muhammad (peace be upon him): A Select Anthology of Hadith Literature on Economics, Muhammad Akram Khan. Republished with permission.