Muwatta Malik: Book 36, Hadith 17
Malik said, “The explanation of that according to what we think – and Allah knows best – is that a man gives a pledge to somebody in security for something. The pledge is superior to that for which he pawned it. The pledger says to the pawn-broker, ‘I will bring you your due, after such-and-such a time. If not, the pledge is yours for what it was pawned for.’ ”
Malik said, “This transaction is not good and it is not halal. This is what was forbidden. If the owner brings what he pledged it for after the period, it is his. I think that the time condition is void.”
“ لاَ يَغْلَقُ الرَّهْنُ ” .
Muwatta Malik: Book 36, Hadith 17
The above hadith is from the Muwatta Malik collection of hadiths. Compiled by Imam Malik ibn Anas in the 8th century, the Muwatta Malik is one of the earliest surviving books of hadith. This foundational Islamic text was written over four decades and contains nearly 2,000 narrations systematically organized into 61 books.
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For more Hadith in Book 36: Judgements