FatwaFederal TerritoriesTransactions & Finance
IRSYAD HUKUM SIRI KE-766: HUKUM PIHAK MONEY CHANGER MENGAMBIL KEUNTUNGAN DARIPADA PERTUKARAN MATA WANG
Is it permissible for a money changer to make a profit from currency exchange without falling into riba?
Short answer
Currency exchange at a money changer, such as Malaysian Ringgit to Singapore Dollars, is a sale of ribawi items of the same category but different types.
A reference, not a fatwa. First sentence of the summary below — read the original fatwa and consult your state authority before acting.
- Authority
- Federal Territories Mufti Office
- Date
- Status
- Opinion (irsyad)
- Series
- Irsyad al-Hukum (Umum)
- Topic
- Transactions & Finance
No evidence of gazettement in the source — this is not a gazetted fatwa.
Summary
Currency exchange at a money changer, such as Malaysian Ringgit to Singapore Dollars, is a sale of ribawi items of the same category but different types. An unequal exchange value is not prohibited riba as long as the transaction is completed on the spot. If it is deferred, it falls under riba al-nasi'ah. What is prohibited is profiting from exchanging the same type of currency, for example Ringgit banknotes for Ringgit coins.
Written in our own words from the original fatwa — check the source before acting on it.
Walaupun ditukar dengan nilai yang tidak sama, ia tidak tergolong dalam riba yang diharamkan syarak selagimana jual beli tersebut dilakukan secara lani/on the spot.
Read the full fatwa on the Federal Territories website (new tab)
How to cite
Cite the original fatwa and its authority. Rujuk Fatwa is only where you found it.
Federal Territories Mufti Office. “IRSYAD HUKUM SIRI KE-766: HUKUM PIHAK MONEY CHANGER MENGAMBIL KEUNTUNGAN DARIPADA PERTUKARAN MATA WANG”, 3 May 2023. https://muftiwp.gov.my/ms/artikel/irsyad-hukum/umum/5630-irsyad-al-fatwa-siri-ke-766-hukum-pihak-money-changer-mengambil-keuntungan-daripada-pertukaran-mata-wang. Found via Rujuk Fatwa: https://rujukfatwa.com/en/fatwa/money-changer-profit-currency-exchange-ruling/