The Majlis Archive

Finance - Banking - Business The Majlis Vol 18 No 12, p.3

If a R100 note is exchanged for 20 R5 coins, is it necessary for the transaction to be hand to hand?

Question

If a R100 note is exchanged for 20 R5 coins, is it necessary for the transaction to be hand to hand?

Answer

Yes, all transactions involving money have to be compulsorily cash – hand to hand. If it is not cash, it will be a riba deal.

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Published in
The Majlis Vol 18 No 12
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Appears under Questions and Answers (approximate).

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