What is the ruling on buying dollars with a check and then selling them for cash immediately after the transfer?

The transaction mentioned is permissible, whether the amount is transferred directly to the merchant's bank account or through the agency of a bank employee, provided that the dollars are not given to you until after the amount has been transferred to his account. This is because a bank entry is considered a constructive possession, which is valid শরআ (Islamically), as stipulated by the Islamic Fiqh Academy.