Question
Currently in Zimbabwe there is a cash crisis. The banks are limiting daily withdrawals to $50. People who have cash are taking advantage of the situation and selling cash for a profit. Example: Zaid has considerable cash in the bank, but is unable to withdraw. Since he cannot access his cash, a person with cash sells him for example $1000 for $1,100. Zaid then makes payment of $1,100 by bank transfer. Is this permissible?
Answer
Selling money in the manner explained by you is haraam. The extra or the gain is haraam riba.
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- Source
- themajlis.co.za
- Published in
- The Majlis Vol 23 No 12
- PDF page
- 5
Verbatim verified against the source PDF
Appears under BEVERAGES AND THE HADHRATS. This heading is the nearest headline at or before the page and is approximate. Do not cite it alone.