What is the ruling on dealing with the current paper currencies that have no intrinsic value and no gold backing, and whose value sometimes changes without justification, and is there any injustice in this, or empowerment of the disbelievers?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
The value of paper currency is derived from governments obligating people to use and accept it. It serves as a price for goods, and changes in its value do not affect its function as currency. The Council of Senior Scholars holds that paper currency is considered a self-standing form of currency, similar to the monetary nature of gold and silver. The problem of changing currency value (inflation) affects the purchasing power of borrowed or due amounts, but scholars have researched the implications of this issue.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/125553
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- Ftawy
- Original fatwa ID
- 125553
- 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