If it is established that the Jordanian dinar is not supported by gold alone, but is supported by other things, does the ruling prohibiting the trading of paper currency remain in effect?

The questioner : If it is established that the Jordanian dinar is not supported by gold alone, but is supported by other things, does the ruling on selling currency remain as forbidden?

The Shaykh : This is a statement that, in a sense, I cannot answer, because I am a Salafi, and perhaps you are also a Salafi like me. It is the methodology of the Salaf that a scholar does not burden himself with answering hypothetical questions. If this were a real-world issue, I should understand it and be convinced of it before answering it. I do not believe that is the case. Therefore, I do not answer by saying that paper currency is not supported by gold in every country. I do not want to delve into such details. I mean, I do not want to go into the details, because the reality is that this issue relates to economics, and I am not a specialist in economics. However, I ask: do you imagine a country, or let us say a small, poor state that has no gold, printing paper like this, assigning whatever value it wants, and having its currency circulate in the lands of the world? I believe we would all say: No, no. So, it is necessary that every paper currency be supported by gold. That is, the state that issues such a currency must be wealthy in the two metals, gold and silver. The reality that everyone witnesses today is that paper currencies are like bonds. Would a person write a bond on himself for another, when that other person knows that the writer of the bond is poor and owns nothing? That does not work. Well, someone else, please.