Exchanging money with currency dealers
Machine translationRead the Arabic original
The first question of Fatwa No. ( 7103 )
Q1: I am an Egyptian doctor working in Saudi Arabia , and I will save, if Allah wills, money from what I earn here. When I return, I will have to exchange this money from Saudi riyals or US dollars to Egyptian pounds. In Egypt , I will have two options: either exchange it at the bank;
and there the exchange rate for the dollar will be about 80 Egyptian piastres, whereas if I exchange it with currency dealers, the rate will be about 120 Egyptian piastres. So, if I exchange my money at the latter rate, is that forbidden?
A1 : It is permissible for you to exchange it with currency dealers at the latter rate, provided that the currencies are of different types and you do not fear harm to yourself by following this method.
Q1: I am an Egyptian doctor working in Saudi Arabia , and I will save, if Allah wills, money from what I earn here. When I return, I will have to exchange this money from Saudi riyals or US dollars to Egyptian pounds. In Egypt , I will have two options: either exchange it at the bank;
and there the exchange rate for the dollar will be about 80 Egyptian piastres, whereas if I exchange it with currency dealers, the rate will be about 120 Egyptian piastres. So, if I exchange my money at the latter rate, is that forbidden?
A1 : It is permissible for you to exchange it with currency dealers at the latter rate, provided that the currencies are of different types and you do not fear harm to yourself by following this method.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.