Question
Ten years ago I loaned someone R25,000. The value of the rand has considerably decreased. Can I ask for payment in gold?
Answer
The loan given ten years ago should be repaid with the amount of gold which R25,000 could have procured at that time (ten years ago). Ten years ago the price of a krugerrand was R15,000. Today the price is about R50,000. Long term deals should be transacted in gold.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 27 No 11
- PDF page
- 9
Appears under A NEW HYBRID SHIAH-INTERFAITH ‘QUR’AAN’ (approximate).