When a person wants to convert his money from one currency to another, what is required of him?
Machine translationRead the Arabic original
The questioner : When a person wants to convert his money from one currency to another, what is required of him?
The Shaykh : What is required of him if he wants to exchange one currency for another is that each of the two parties, the seller and the buyer, must take possession of the consideration that has passed to him. In other words, the transaction must be hand-to-hand, because the Prophet (peace and blessings be upon him) said:Sahih Muslim 1587c Therefore, in the exchange of currencies, mutual possession must occur in the session of the contract, and it is not permissible to delay possession. Yes.
The questioner : May Allah reward you. The listener, also named Hamid, in his last question says:
The Shaykh : What is required of him if he wants to exchange one currency for another is that each of the two parties, the seller and the buyer, must take possession of the consideration that has passed to him. In other words, the transaction must be hand-to-hand, because the Prophet (peace and blessings be upon him) said:
Gold is to be paid for by gold, silver by silver, wheat by wheat, barley by barley, dates by dates, and salt by salt, like for like and equal for equal, payment being made hand to hand. If these classes differ, then sell as you wish if payment is made hand to hand.
الذهب بالذهب والفضة بالفضة والبر بالبر والشعير بالشعير والتمر بالتمر والملح بالملح مثلاً بمثل سواء بسواء يداً بيد، فإذا اختلفت هذه الأصناف فبيعوا كيف شئتم إذا كان يداً بيدThe questioner : May Allah reward you. The listener, also named Hamid, in his last question says: