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❫
In an era of profound social change, the age of marriage is steadily rising, creating silent fractures in our communities.… Read More
Explore the early Islamic view (Salaf) on buffalo sacrifice. This analysis refutes claims of scholarly consensus (Ijma'), showing how Zakat… Read More
Explore how Islamic teachings can deepen intimacy in your marriage as you enter your thirties. Discover practical tips, Sunnah practices,… Read More
Access the authentic teachings of Prophet Muhammad (PBUH) with our free Sahih Bukhari PDF downloads. Available in English, Urdu, French,… Read More
Discover the profound significance of Hajj, a pillar of Islam, through a comprehensive analysis of its primary references in the… Read More
Discover the seven cunning traps Shaytan uses to lead believers astray, as explained by Imam Ibn al-Qayyim. Learn how to… Read More