The Ruling on Buying and Selling Currencies Through Companies

The questioner:
Peace be upon you and Allah's mercy.

The presenter:
And upon you be peace.

The Shaykh:
Peace be upon you.

The questioner:
The first question, may you live long, concerns companies that buy and sell currencies. What is the ruling on buying and selling currencies through these companies? According to their explanation, they are currencies—Allah knows best whether they are currencies or something else—but according to what they say, they are currencies. Now, what is the second question?
The second question, may Allah bless you. My home is about two hundred kilometers or more from my workplace. I work for two days and then rest at home for four days. During those two days, I intend to travel to my work. Is it permissible for me to shorten the prayer? I mean, is it permissible for me to combine the prayers? Very well.
The third question, may Allah bless you. My mother has gold. She has gold, may you live long—about nine to ten rings and three or four bracelets. But she does not actually pay zakah on it. For four years, she says she heard a fatwa, I don’t know where, that she is not required to pay it. I said, I want to seek reassurance from Shaykh Salih. What is the method, if it happens, for her to pay zakah for the past years and the five past years for which she did not pay? Is that clear?

The presenter:
Thank you. The companies sell and buy in currencies, Honorable Shaykh. What is the ruling on that?

The Shaykh:
There is nothing wrong with that. This is a matter of currency exchange. It is permissible to exchange money for money, whether of the same type or of different types, but with conditions. If they are of the same type, two things are required: equality and the exchange of possession in the meeting place. If they are of different types, one condition is required, which is the exchange of possession in the meeting place, meaning that they do not separate while anything remains between them. Yes.