The ruling on exchanging currency through an intermediary at a rate lower than the market rate
Machine translationRead the Arabic original
Question:
May Allah reward you. This questioner, Muhammad, resides in the Kingdom and is from Yemen. He says: We work in this blessed land, and when we want to send our expenses to our country in Yemen, we hand over the amount in Saudi currency and receive it in our country in Yemeni currency at a rate lower than the market rate. Is this permissible?
Answer:
This is problematic; because it is an exchange, and an exchange requires the exchange of possession to take place in the meeting. So you buy the Yemeni currency while you are in Saudi Arabia and transfer it in order to get out of this difficulty. You buy the Yemeni currency in Saudi Arabia and transfer it to your family in Yemen. Yes.
May Allah reward you. This questioner, Muhammad, resides in the Kingdom and is from Yemen. He says: We work in this blessed land, and when we want to send our expenses to our country in Yemen, we hand over the amount in Saudi currency and receive it in our country in Yemeni currency at a rate lower than the market rate. Is this permissible?
Answer:
This is problematic; because it is an exchange, and an exchange requires the exchange of possession to take place in the meeting. So you buy the Yemeni currency while you are in Saudi Arabia and transfer it in order to get out of this difficulty. You buy the Yemeni currency in Saudi Arabia and transfer it to your family in Yemen. Yes.
Source
نور على الدرب - الفوزان - 03/268 — archive.org (17:28)
The Arabic text is a machine transcription of the audio recording.