The Sale of Checks or Bills of Exchange
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The second question of Fatwa No. ( 9947 )
Q2: Is the sale of checks or bills of exchange lawful, even if it is at a loss, meaning less than the written amount?
A2: The sale of checks in the manner described is not permissible; because it contains riba al-nasi'ah (usury of deferment) and riba al-fadl (usury of excess in a like-for-like exchange).
Q2: Is the sale of checks or bills of exchange lawful, even if it is at a loss, meaning less than the written amount?
A2: The sale of checks in the manner described is not permissible; because it contains riba al-nasi'ah (usury of deferment) and riba al-fadl (usury of excess in a like-for-like exchange).
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.