What is the ruling on purchasing foreign currency before the time for paying the amount to the owner of the imported goods arrives, in anticipation of expected harm?
Machine translationRead the Arabic original
The questioner : In another form of the same issue.
The Shaykh : Yes.
The questioner : ... a little, meaning, let us suppose that I sold goods to Zayhir on credit, and I am to import them for him. Their value today in foreign currency is ten thousand. To ensure that I remain at the same price—for example—I calculated that when I returned, the price of the pound sterling was, for example, half a dinar. So I went and bought this currency and kept it with me; so that when the payment becomes due after a few months, I will have neither lost nor gained. I calculated that I am aware of its value today, so this is not trading. And although I bought it in advance, it is permissible when I pay the money...
The Shaykh : Here it is completely different from the cases we were discussing... On the contrary, this is a precaution to avoid falling into a problem that violates the Shari'ah.
The Shaykh : Yes.
The questioner : ... a little, meaning, let us suppose that I sold goods to Zayhir on credit, and I am to import them for him. Their value today in foreign currency is ten thousand. To ensure that I remain at the same price—for example—I calculated that when I returned, the price of the pound sterling was, for example, half a dinar. So I went and bought this currency and kept it with me; so that when the payment becomes due after a few months, I will have neither lost nor gained. I calculated that I am aware of its value today, so this is not trading. And although I bought it in advance, it is permissible when I pay the money...
The Shaykh : Here it is completely different from the cases we were discussing... On the contrary, this is a precaution to avoid falling into a problem that violates the Shari'ah.
Source
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