A person comes to travel outside the Kingdom, for example, he will travel, for example, to London or to America or any other destination, so he goes to the bank, for example, and takes a check from it.
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The questioner : A person comes to travel outside the Kingdom, for example, he will travel, for example, to London or to America or any other destination, so he goes to the bank and, for example, takes a check from it in exchange for money he pays to the bank, and the bank transfers this check to any bank in the foreign country, and perhaps the bank disposes of the money before the traveler arrives, and this is not considered possession, so is this permissible or not permissible?
The Shaykh : We see that in such a case, if it is a currency exchange, meaning that he will be given the currency according to the country, the currency of the country where the bank is located.
The questioner : Yes.
The Shaykh : Then the bank will convert it to the currency of the country he is traveling to.
The questioner : Yes.
The Shaykh : This is, in fact, a currency exchange, and this action is not permissible because the possession will be delayed.
The questioner : Yes.
The Shaykh : The possession will be delayed.
The questioner : Yes, yes.
The Shaykh : But if this man gave him currency from the country he is traveling to and said, take this, for example, one hundred dollars, and he wants to travel to America, convert it for me to one hundred dollars at the American bank, for example, there.
The questioner : Yes.
The Shaykh : Then there is nothing wrong with this, because this is not a sale; I did not sell, for example, Saudi currency for American currency, but rather I gave him American currency to be converted to American currency itself.
The questioner : So does this imply that, for example, I buy the American currency and take it to the bank?
The Shaykh : Yes, yes, and that is the case.
The questioner : And I do not give him Saudi currency and say, convert it to.
The Shaykh : Yes, and that is the case.
The questioner : For example.
The Shaykh : We say that if you want to travel to America, for example, it is not possible for you to give Saudi currency to the bank and have it converted to American money.
The questioner : But this involves hardship for Muslims.
The Shaykh : There is no hardship, by Allah; this is what we see, and there is no hardship in it. Where is the hardship?
The questioner : There is a loss first, because you will buy, for example, the currency from outside the bank.
The Shaykh : Yes.
The questioner : And he will take the difference from you, and when depositing it in the bank, he will take the commission for the transfer.
The Shaykh : Yes, yes.
The questioner : So this wastes the right of the Muslim, for example.
The Shaykh : And let him, if the person is free from riba, let him do so.
The questioner : Yes, you have done well.
The Shaykh : And if we consider the issue of loss and profit in falling into riba, then many things become disrupted for us, so it is obligatory for the Muslim to proceed according to what the Shari'ah has prescribed for him, whether he loses or profits in that.
The questioner : Yes.
This message came from Muhammad 'Abd Allah 'Abd al-Rashid.
The Shaykh : We see that in such a case, if it is a currency exchange, meaning that he will be given the currency according to the country, the currency of the country where the bank is located.
The questioner : Yes.
The Shaykh : Then the bank will convert it to the currency of the country he is traveling to.
The questioner : Yes.
The Shaykh : This is, in fact, a currency exchange, and this action is not permissible because the possession will be delayed.
The questioner : Yes.
The Shaykh : The possession will be delayed.
The questioner : Yes, yes.
The Shaykh : But if this man gave him currency from the country he is traveling to and said, take this, for example, one hundred dollars, and he wants to travel to America, convert it for me to one hundred dollars at the American bank, for example, there.
The questioner : Yes.
The Shaykh : Then there is nothing wrong with this, because this is not a sale; I did not sell, for example, Saudi currency for American currency, but rather I gave him American currency to be converted to American currency itself.
The questioner : So does this imply that, for example, I buy the American currency and take it to the bank?
The Shaykh : Yes, yes, and that is the case.
The questioner : And I do not give him Saudi currency and say, convert it to.
The Shaykh : Yes, and that is the case.
The questioner : For example.
The Shaykh : We say that if you want to travel to America, for example, it is not possible for you to give Saudi currency to the bank and have it converted to American money.
The questioner : But this involves hardship for Muslims.
The Shaykh : There is no hardship, by Allah; this is what we see, and there is no hardship in it. Where is the hardship?
The questioner : There is a loss first, because you will buy, for example, the currency from outside the bank.
The Shaykh : Yes.
The questioner : And he will take the difference from you, and when depositing it in the bank, he will take the commission for the transfer.
The Shaykh : Yes, yes.
The questioner : So this wastes the right of the Muslim, for example.
The Shaykh : And let him, if the person is free from riba, let him do so.
The questioner : Yes, you have done well.
The Shaykh : And if we consider the issue of loss and profit in falling into riba, then many things become disrupted for us, so it is obligatory for the Muslim to proceed according to what the Shari'ah has prescribed for him, whether he loses or profits in that.
The questioner : Yes.
This message came from Muhammad 'Abd Allah 'Abd al-Rashid.