Is changing currencies in interest-based banks a form of riba?
Machine translationRead the Arabic original
Question:
The questioner says: Honorable Shaykh, does changing one currency to another through interest-based banks fall under riba?
Answer:
This is called sarf (currency exchange). Changing one currency for another is fine if the two parties exchange possession before parting ways, whether this takes place in banks or elsewhere. However, if they part ways without exchanging possession, or if one of them does not receive his share, that is riba, specifically riba al-nasi'ah (usury of deferment).
The questioner says: Honorable Shaykh, does changing one currency to another through interest-based banks fall under riba?
Answer:
This is called sarf (currency exchange). Changing one currency for another is fine if the two parties exchange possession before parting ways, whether this takes place in banks or elsewhere. However, if they part ways without exchanging possession, or if one of them does not receive his share, that is riba, specifically riba al-nasi'ah (usury of deferment).
Source
قناة «العلامة الدكتور صالح الفوزان»، هل من الربا تغيير العملات في البنوك الربوية؟ للشيخ الفوزان — youtube.com (0:25)
The Arabic text is a machine transcription of the audio recording.