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What is the ruling on borrowing from a for-profit company in Jordanian Dinars on the condition that the loan be repaid in US Dollars according to a fixed exchange rate?

1 min readAlso available in العربية

If the loan amount is received in dollars and repaid in dollars, there is no objection to that, because it is a benevolent loan (Qard Hasan) and there is no deferred exchange; the repayment is in the same currency received.

However, if the borrower repays the company in a different currency, it is not permissible to agree at the time of concluding the loan that the debt be repaid in a different currency. But it is permissible to agree on the day of repayment to settle the debt with a different currency at its exchange rate on the day of repayment.

It is not permissible to agree to register the debt in a specific currency equivalent to its value in gold or another currency, such that the debtor is obliged to repay the debt in gold or the other agreed-upon currency.

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

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