A merchant who purchases his goods from abroad, and the paper currency is subject to rising and falling
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The questioner: Following up on the topic of trading in paper currency, there is... this might be an exception, where a merchant purchases his goods from abroad.
The Shaykh: ... Yes?
The questioner: So, the paper currency is subject to rising and falling. He is being cautious; he is seeking goods that are due for payment in two months. Right now, he is calculating and sees that a certain currency is rising, or may rise in the future due to reports. So, he buys it now in the hope that when he pays, the price will be, meaning, he will benefit. The opposite may happen, or it may not happen, and this issue recurs... So, from this angle, he buys the currency, and when he feels he is going to lose, he sells it, so it is as if he is trading in currency.
The Shaykh: Yes.
The questioner: But not for the purpose of money changers, but for the purpose of supporting trade.
The Shaykh: In any case, what is the purpose of the money changers, Professor? It is trade.
The questioner : ... .
The Shaykh: I understand, but the purpose and the result is trade. So here, only the form differs, while the result and the goal are the same; especially since you mentioned that he does not buy because he needs to pay in two months, but rather that this currency in which he needs to pay has become cheap, so he rushed and bought it. And what is permissible? He may suffer the opposite, and that is the problem of trading in currency exchange.
The questioner: ... it is the same.
The Shaykh: Ah, it is the same, a problem among problems.
Another questioner: What... meaning it is not permissible... .
The Shaykh: Yes, trading in currency is not permissible; it needs a solution to the problem.
The questioner: Meaning, no... Professor, from the angle of dire necessity?
The Shaykh: Dire necessities—may Allah reward you—have a very narrow meaning. For example, if a person is ill and if he does not eat something forbidden; this is not like the one who wants to expand his trade and commits a forbidden act.
The questioner: My intention is also, in addition to that... .
The Shaykh: It is not permissible at all... Professor, and you see the reality; the reality fully helps in understanding the Islamic ruling.
Yes.
The Shaykh: ... Yes?
The questioner: So, the paper currency is subject to rising and falling. He is being cautious; he is seeking goods that are due for payment in two months. Right now, he is calculating and sees that a certain currency is rising, or may rise in the future due to reports. So, he buys it now in the hope that when he pays, the price will be, meaning, he will benefit. The opposite may happen, or it may not happen, and this issue recurs... So, from this angle, he buys the currency, and when he feels he is going to lose, he sells it, so it is as if he is trading in currency.
The Shaykh: Yes.
The questioner: But not for the purpose of money changers, but for the purpose of supporting trade.
The Shaykh: In any case, what is the purpose of the money changers, Professor? It is trade.
The questioner : ... .
The Shaykh: I understand, but the purpose and the result is trade. So here, only the form differs, while the result and the goal are the same; especially since you mentioned that he does not buy because he needs to pay in two months, but rather that this currency in which he needs to pay has become cheap, so he rushed and bought it. And what is permissible? He may suffer the opposite, and that is the problem of trading in currency exchange.
The questioner: ... it is the same.
The Shaykh: Ah, it is the same, a problem among problems.
Another questioner: What... meaning it is not permissible... .
The Shaykh: Yes, trading in currency is not permissible; it needs a solution to the problem.
The questioner: Meaning, no... Professor, from the angle of dire necessity?
The Shaykh: Dire necessities—may Allah reward you—have a very narrow meaning. For example, if a person is ill and if he does not eat something forbidden; this is not like the one who wants to expand his trade and commits a forbidden act.
The questioner: My intention is also, in addition to that... .
The Shaykh: It is not permissible at all... Professor, and you see the reality; the reality fully helps in understanding the Islamic ruling.
Yes.
Source
www.al-albany.com
The Arabic text is copied verbatim from the original source, without any edits.