The Ruling on Bank Transfers Between Currencies

Question:
Abdullah Abd al-Rahman from Yemen says: I am a questioner, and I ask about the ruling on banking transactions in which financial amounts are sent and delivered from foreign countries. The amount is received in Saudi riyals or any foreign currency, and the amount is delivered in Yemen in the Yemeni currency. This is done with the consent of the sender and the recipient. Please inform us about this.

Answer:
The legal principle established by the text is that the sale of currency for currency is currency exchange (sarf). The condition for it is immediate exchange in the presence of both parties. If the type differs, meaning currency for another currency, then it is permissible to exchange them in unequal amounts, but immediate exchange is necessary. The Messenger of Allah (peace and blessings be upon him) said: . If he wants to send the amount to his country, he does not exchange it in the other country. Rather, he buys the currency he wants to send, which he intends to deliver in the second country. He buys it from the country where he is and sends it. He transfers it. Yes.

The presenter:
May Allah reward you with good and bless you.