Conversion between currencies
Machine translationRead the Arabic original
The first question of Fatwa No. ( 4721 )
Q1: Whatis the ruling on money converted from one currency to another,for example, I receive my salary in Saudi riyals and convert it to Sudanese riyals, knowing that one Saudi riyal equals three Sudanese riyals; is this riba (usury or interest)?
A1 : It is permissible to convert the paper currency of one country to the paper currency of another country, even if the two amounts differ in value due to the difference in type, as in the example mentioned in the question. However, this is conditional on the exchange taking place in the meeting, and taking possession of the check or the transfer slip is considered the same as taking possession in the meeting.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q1: Whatis the ruling on money converted from one currency to another,for example, I receive my salary in Saudi riyals and convert it to Sudanese riyals, knowing that one Saudi riyal equals three Sudanese riyals; is this riba (usury or interest)?
A1 : It is permissible to convert the paper currency of one country to the paper currency of another country, even if the two amounts differ in value due to the difference in type, as in the example mentioned in the question. However, this is conditional on the exchange taking place in the meeting, and taking possession of the check or the transfer slip is considered the same as taking possession in the meeting.
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.