Question: What is the ruling on the percentage charged in currency exchange?
Answer: Exchanging the currency of one country for the currency of another and paying a fee for this exchange is permissible. A person can engage in such a business and charge a fee for currency exchange, or someone can exchange their currency and pay a fee for it. For example, people living in Gulf countries send money to their home countries through money exchange services, and the exchange service charges a fee for this. There is no issue with this. However, in money exchange, a separate fee should be charged, not a percentage.
Sheikh Maqbool Ahmed Salafi ❪Jeddah Dawah Center, Hayy Al-Salamah – Saudi Arabia❫
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