Selling Saudi coin currency for foreign paper currency
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Fatwa number ( 15803 )
Q: I would like to inform you that I relied on a fatwa from His Eminence ShaykhMuhammad al-Salih al-Uthaymeen,regarding the permissibility of the practice ofexchanging Saudi paper currency for Saudi coin currencyof the one riyal denomination; with the aim of securing it for users of international currency phones at the dedicated communication complexes. We then learned afterwards that you do not permit that. Therefore, we found a way out for this, which is that whoever wishes to exchange the currency must first exchange the Saudi paper currency for another foreign currency, and then he brings me the foreign paper currency and I exchange it for him with Saudi coin currency of the one riyal denomination; so that he can use it in the currency phone. With this, I ask Allah, then you, to issue a fatwa to me on this matter. May Allah reward you with the best reward, and may Allah preserve and protect you. .
A : If the situation is as you described, there is no blame on you for selling Saudi coin currency for foreign paper currency, but with the condition of mutual possession in the meeting of the contract; for what was narrated by Ahmad and Muslim from 'Ubadah ibn al-Samit (may Allah be pleased with him), from the Prophet (peace and blessings be upon him) that he said:Sahih Muslim 1587c . And it is known that
coin currency is one type and foreign paper currency is another type, so it is permissible to sell one for the other with difference in amount and the occurrence of mutual possession in the meeting of the contract.
Q: I would like to inform you that I relied on a fatwa from His Eminence ShaykhMuhammad al-Salih al-Uthaymeen,regarding the permissibility of the practice ofexchanging Saudi paper currency for Saudi coin currencyof the one riyal denomination; with the aim of securing it for users of international currency phones at the dedicated communication complexes. We then learned afterwards that you do not permit that. Therefore, we found a way out for this, which is that whoever wishes to exchange the currency must first exchange the Saudi paper currency for another foreign currency, and then he brings me the foreign paper currency and I exchange it for him with Saudi coin currency of the one riyal denomination; so that he can use it in the currency phone. With this, I ask Allah, then you, to issue a fatwa to me on this matter. May Allah reward you with the best reward, and may Allah preserve and protect you. .
A : If the situation is as you described, there is no blame on you for selling Saudi coin currency for foreign paper currency, but with the condition of mutual possession in the meeting of the contract; for what was narrated by Ahmad and Muslim from 'Ubadah ibn al-Samit (may Allah be pleased with him), from the Prophet (peace and blessings be upon him) that he said:
Gold is to be paid for by gold, silver by silver, wheat by wheat, barley by barley, dates by dates, and salt by salt, like for like and equal for equal, payment being made hand to hand. If these classes differ, then sell as you wish if payment is made hand to hand.
الذهب بالذهب، والفضة بالفضة، والبر بالبر، والشعير بالشعير، والتمر بالتمر، والملح بالملح، مثلاً بمثل، سواء بسواء، يدًا بيد، فإذا اختلفت هذه الأصناف فبيعوا كيف شئتم؛ إذا كان يدًا بيدcoin currency is one type and foreign paper currency is another type, so it is permissible to sell one for the other with difference in amount and the occurrence of mutual possession in the meeting of the contract.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.