How is a debt of 10,000 Sudanese Pounds, outstanding for eighteen years, to be repaid, given that its purchasing power has significantly changed, and it is now equivalent to 15 Saudi Riyals, whereas at the time the debt was incurred it was equivalent to 7,500 Saudi Riyals?
Scholars have differed regarding what is due if the value of the currency in which a debt was fixed changes, with three main opinions:
1. The view of Abu Hanifa, the Shafi'is, the Hanbalis, and the Malikis (the prevalent opinion): The exact currency agreed upon must be paid without change. 2. The view of Abu Yusuf from the Hanafis (and this is their ): The debtor must pay the value of the currency on the day the debt was fixed, using a prevailing currency. 3. The view of Al-Rahouni from the Malikis: If the change is excessive, the value of the currency must be paid; otherwise, the like amount.
Based on the second and third opinions, the questioner is required to return the value of the Sudanese Pounds on the day of the contract, equivalent to 7500 Saudi Riyals. However, according to the first opinion, he is only required to return the Sudanese Pounds. The Prophet, peace and blessings be upon him, encouraged excellent repayment.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/40215
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 40215
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy