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Exchanging Currencies

Repayment of a Loan in a Different Currency

Question: Is it permissible to loan UAE dirhams with repayment of the loan in GB pounds? Answer بسم الله الرحمن الرحیم A loan requires that the agreement must be to repay the exact amount borrowed and in the very denomination borrowed.[1] Any agreement contrary to this in invalid and impermissible. If there is a need...Read More