Benefits & Rulings:

➊ The exchange of gold for gold or silver for silver is only permissible when the quantity on both sides is equal and both parties make the payment at the same sitting. However, when gold is exchanged for silver, equality in quantity is not required — but immediate exchange from both sides within the same session is mandatory. By analogy, this ruling also applies to exchanging old currency notes for new ones under the same conditions. For example, exchanging old notes worth 100 rupees for new notes worth 110 rupees is not permissible.

➋ No opinion, not even that of a companion (Sahabi), can take precedence over the saying of the Prophet ﷺ. However, it may happen that one companion derives a certain meaning from a Hadith, while another sees a different implication or gives preference to another Hadith. In such cases, both views should be considered and analyzed to determine which opinion is stronger. If an error is made in such ijtihad (reasoned judgment), it will be excused in the sight of Allah.

➌ The companions of the Prophet ﷺ valued Hadith to such an extent that if someone presented a personal opinion contrary to a Hadith, it would lead to great displeasure. In one instance, a companion became so upset that he left the area altogether. Even Umar رضي الله عنه appreciated this level of commitment to the Sunnah and ordered that the companion in question not be placed under the authority of Mu‘awiyah رضي الله عنه.

➍ When there are differing opinions among the companions on a matter, the opinion that is supported by the Qur’an and Sunnah holds more weight. For example, when Umar رضي الله عنه learned of two differing views, he gave preference to the one supported by the Prophet’s command and formally implemented it as the ruling.