What is the ruling on lending precious stones or items for which no true equivalent exists?
Chapter on Loan (Qard)
Al-Mughni
Book of Sales
Primary text
Regarding items that cannot be established as a debt obligation (*salam*), such as precious stones, Al-Qadi permits their lending, requiring the borrower to return the monetary value (*qimah*), since anything without an equivalent is guaranteed by its value, and stones are treated similarly in valuation. This view is supported by the possibility of returning the value if the primary obligation is the return of the monetary equivalent.
Supporting text
Abu Al-Khattab prohibits the lending of such items because lending fundamentally requires the return of an equivalent (*mithl*), and these items lack one. Furthermore, their lending was not transmitted in the Sunnah, nor do they resemble items where lending was transmitted, as they are not common necessities, and they do not establish a debt obligation (*salam*) in the general sense, therefore the prohibition on their lending must be maintained. This disagreement aligns with two positions on the obligatory substitute for non-measured/weighed goods: if the obligation is the equivalent, lending is forbidden; if the obligation is the value, lending is permitted because returning the value is possible. Scholars of Al-Shafi'i also hold these two views.