Collateral and Surety

A man from the Children of Israel asked another to lend him one thousand dinars

Abu Hurayrah (may Allah be pleased with him) reported that the Messenger of Allah (may Allah's peace and blessings be upon him) mentioned that a man from the Children of Israel asked another to lend him one thousand dinars. The man asked him to bring witnesses. The former replied: "Allah is sufficient as witness." The second said: "Bring me a surety." The former replied: "Allah is sufficient as surety." The man said: "You are right," and lent him the money for a certain period. The first man went across the sea. When he finished his job, he searched for a conveyance so that he might reach the other in time for the repayment of the debt, but he could not find any. So he took a piece of wood and made a hole in it, inserted one thousand dinars and a letter to the lender in it, and then firmly closed (i.e. sealed) the hole. He took the piece of wood to the sea and said: "O Allah, You know well that I took a loan of one thousand dinars from so-and-so. He demanded a surety from me, but I told him that Allah's guarantee was sufficient, and he accepted Your guarantee. He then asked for a witness, and I told him that Allah was sufficient as witness, and he accepted You as Witness. No doubt, I tried hard to find a conveyance so that I could give him his money, but I could not find any, so I hand over this money to You." Saying that, he threw the piece of wood into the sea till it went out far into it, and then he went away. Meanwhile, he started searching for a conveyance in order to reach the creditor's country. One day, the lender came out to see whether a ship had arrived bringing his money, when all of a sudden, he saw the piece of wood in which his money had been deposited. He took it home to use it for fire. When he sawed it, he found his money and the letter inside it. Shortly after that, the debtor came, bringing one thousand dinars to him, and he said: "By Allah, I had been trying hard to find a boat so that I could send you your money, but I failed to find one before the one I have come by." The lender asked: "Have you sent something to me?" The debtor replied: "I told you I could not find a boat other than the one I have come by." The lender said: "Allah has delivered the money which you sent in the piece of wood on your behalf. So you may keep your one thousand dinars and depart while being guided on the straight path."