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21 fatwas

  • Selling banknote with special numbers for more than its value Date: 5-6-2017

    Assalaamu alaykum. Is it permissible to sell a new £5 note for more than its value. It is one that has special numbers. .. More

  • Exchanging currency in one country and receiving it in another Date: 18-5-2017

    Assalaamu alaykum Shaykh. I am Sri Lankan, I would like to know the Islamic ruling on black market money exchange and whether it is permissible. For example, my country allows US$ 5,000 to be taken by a person going out of the country without declaring it. If one takes more, then the exceeding amount requires the approval of the concerned autority... More

  • No harm in changing rupees to dollars for saving Date: 26-4-2016

    Assalaamu alaykum. I have some savings in PKR and want to convert it into USD, also for saving. Please guide me and let me know whether it is halal or haram. What is the sharia ruling on this act? .. More

  • Paying fees to transfer money from one e-wallet to another Date: 3-2-2015

    asalam I have a question please I have a money us dollars in my electronic bank account they are called e wallet and I wanna send this money to another ewallet which I own and I found an exhanger who do that I mean transfer your money from an e wallet to another and he do it with 4 fees so I just wanna know if it is allowed? .. More

  • Ruling on payment through PayPal Date: 29-1-2015

    Is PayPal Halal? (Riba) Is PayPal halal for people buying outside the US because PayPal usually uses older conversion rates to convert money to US dollars. I buy items online from Ebay or other sites, and PayPal would convert the money (non-US dollars to US dollars) with older conversion rates (maybe rates from a few days before) as they usually do,.. More

  • Currency trade is valid with physical or constructive receipt at time of contract Date: 30-11-2014

    Salaam, I have to post my question again as I was referred to some previous fatwa’s that dont actually answer my particular question. I would really appreciate if I could get an answer that looks at the particular detail in my question as it is not the same as the other Fatwa questions, here is the question again below, Jazak-Allah Khair. As-salaam-alaikum,.. More

  • He received 200 riyals in change for 500 riyals and left remaining 300 riyals as a debt Date: 6-7-2014

    There is a suituation where I need change of 500 riyal, but I get only 200 riyal from my freind and we agree that he gives me the remaining 300 riyal the next day. Is this transaction fine or have we fallen into Riba-an-Naseeah (Riba in Delay) Please can you give some more examples of Riba-an-Naseeah to understand the concept completely. and Also different.. More

  • Not dealing in foreign currency is rewarded when there is good intention Date: 29-1-2014

    I work in an Arabian Gulf State. Is it permissible to buy the US dollars in order to deposit it in one of my country’s banks or exchange it there or exchange it with Euros? What is the Sharee‘ah ruling? Please advise. May Allaah Reward you... More

  • Criteria of currency exchange online Date: 28-6-2013

    Assalam-u-Alaikum! I am doing Online E-currency Money Exchange Business and Brokery. Online E-currency exchange including these online accounts or payment processor: Liberty Reserve, Payza & Paypal etc. Liberty Reserve is an online e-currency account or payment processor where we can send and receive money only but cannot deposit money directly.. More

  • Conditions for the permissible dealing in hard currencies Date: 19-7-2011

    Is dealing in hard currencies permissible?.. More

  • Depositing money in the stock exchange for sale Date: 18-7-2011

    Brokers here deposit an amount of 4,000 US$ in the stock exchange, whereby they can buy and sell over the phone. They contact the stock exchange and ask them to buy, for example, something for 20,000 Francs, and after a while they demand the stock exchange to sell what was bought and calculate the profit or loss. Is this transaction permissible under.. More

  • This transaction takes the ruling of exchange, not lending Date: 18-7-2011

    Someone borrowed cash and paid it back as gold when the payment was due after three years. This was a condition for the lending, even though the price of gold is variable. As such, the sum to be returned may be higher or lower than the sum that was borrowed. What is the ruling on this? Please advise, and may Allaah reward you... More

  • Exchanging currencies via one’s two bank accounts Date: 29-11-2009

    Assalamu Aleikoum I have 2 bank accounts (in the same bank) the first is local currency (Riyals) and the second is in Euro. I use to transfert mony to the account in Euro (buy Euro) and after hours or days transfert from the Euro to account in Riyal (sell Euro). Please tell me what is the position of Shari3a from such operations Jazakoum.. More

  • Forex trading via the Internet Date: 3-11-2009

    Assalam-u-Alaikum: I have found some ONLINE MARKETING COMPANIES which are related from FOREX TRADING. Forex means to "Sell & Buy Currency Online" and Forex Trading means that the trading of sell and buy currencies from another Online Market OK. So, I want to ask you that Can I invest my money in these COMPANIES because this COMPANIES offer Worldwide.. More

  • He receives dollars in Canada and pays equivalent dinars in Algeria Date: 3-6-2009

    In regards to currency exchange. If they are 2 different types such as Euro for dollars, then the only condition that applies is that the exchnage must be completed hand to hand to avoid any delay. How about international exchanges. I receive currencies in Canada in Dollars, and i give the equivilence in dinars to the people's family or agent in Algeria... More