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.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 23 No 12
- PDF page
- 5
Appears under BEVERAGES AND THE HADHRATS (approximate).