The banks' trade in currencies
Machine translationRead the Arabic original
Q5: Banks engage in currency trading; they buy British pounds from the importer and sell them to the buyer. For example, they buy them for six riyals and then sell them for six and a half riyals, and they have made this a trade. Is this permissible?
A5 : There is no harm in that, if Allah wills, provided that the exchange takes place and the currencies differ between the two parties in the contract session.
And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
A5 : There is no harm in that, if Allah wills, provided that the exchange takes place and the currencies differ between the two parties in the contract session.
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.