Currency exchange at the rate of the day of delivery
Machine translationRead the Arabic original
Fatwa number ( 8547 )
Q: It was reported that I transferred an amount of 200 dollars to my mother in Sudan in the name of a person tasked with receiving the amount from the bank and delivering it to the mother, and what happened was that this person, because
he has a brother in the Kingdom, assumed that the amount sent in his name was sent by his brother, so he went to the bank based on that, and without asking about the sender's name, he received the amount and spent it, and the price of the dollar at that time was, for example, 200 qirsh, and after twenty days had passed, I received a letter from my mother asking me about the expenses and why I had not sent them to her, so I informed her that I had sent them in the name of so-and-so, and after some back and forth, we agreed that I would take the 200 dollars from the brother of the person who received the amount in Khartoum , and because this matter took more than a month approximately; it happened that the price of the dollar changed and became 250, for example, and here the dispute occurred: does the person who received the 200 dollars a month ago have the right to take the difference resulting from the change in the exchange rate, or does he not have the right?
A : If the facts are as stated, namely that the transferred amount was in dollars, and that brother received it from the bank in dollars, then he must deliver it in dollars, or deliver its exchange in piastres at the exchange rate of the day of delivery, if they agree on that. He has no right to the difference resulting from the change in the currency rate. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: It was reported that I transferred an amount of 200 dollars to my mother in Sudan in the name of a person tasked with receiving the amount from the bank and delivering it to the mother, and what happened was that this person, because
he has a brother in the Kingdom, assumed that the amount sent in his name was sent by his brother, so he went to the bank based on that, and without asking about the sender's name, he received the amount and spent it, and the price of the dollar at that time was, for example, 200 qirsh, and after twenty days had passed, I received a letter from my mother asking me about the expenses and why I had not sent them to her, so I informed her that I had sent them in the name of so-and-so, and after some back and forth, we agreed that I would take the 200 dollars from the brother of the person who received the amount in Khartoum , and because this matter took more than a month approximately; it happened that the price of the dollar changed and became 250, for example, and here the dispute occurred: does the person who received the 200 dollars a month ago have the right to take the difference resulting from the change in the exchange rate, or does he not have the right?
A : If the facts are as stated, namely that the transferred amount was in dollars, and that brother received it from the bank in dollars, then he must deliver it in dollars, or deliver its exchange in piastres at the exchange rate of the day of delivery, if they agree on that. He has no right to the difference resulting from the change in the currency rate. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.