Does a check serve as a substitute for banknotes, or does it not serve as a substitute unless it is cashed?
Machine translationRead the Arabic original
The Shaykh : This is Ahmad ibn Suwaq. Does a check serve as a substitute for banknotes, or does it not serve as a substitute until it is cashed? What do you mean by this question of yours?
The questioner : Does a check hold the same status as these banknotes?
The Shaykh : I mean, does it serve as a substitute for taking possession, or what?
The questioner : It serves as a substitute for taking possession and delivery.
The Shaykh : It does not serve as a substitute for taking possession. For example, if you buy gold with dirhams and give the seller a check, this is not sufficient, because if the check is lost, it comes back on you, so it was not a taking of possession.
The questioner : Does a check hold the same status as these banknotes?
The Shaykh : I mean, does it serve as a substitute for taking possession, or what?
The questioner : It serves as a substitute for taking possession and delivery.
The Shaykh : It does not serve as a substitute for taking possession. For example, if you buy gold with dirhams and give the seller a check, this is not sufficient, because if the check is lost, it comes back on you, so it was not a taking of possession.