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What is the ruling on borrowing an amount in US dollars of an old print, on condition that it be repaid with a new print at face value, knowing that there is a difference in the exchange rate between the two prints in the local market?

1 min readAlso available in العربية

It is not permissible for the lender to stipulate that the loan be repaid with a new issue of currency if its exchange rate is higher than the old issue, because this entails drawing a benefit for the lender. If a loan draws a benefit for the lender, it becomes corrupt and usurious, based on the saying of scholars: "Every increase in kind or benefit stipulated by the lender upon the borrower is usury," and "Every loan in which an increase is stipulated is forbidden, without dispute."

Summarized from the full answer at Ftawy · reviewed Sep 2, 2026

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