What is the ruling on borrowing an amount in dollars from a bank, on the condition that it be repaid in the local currency (Ouguiya) with a 16% increase and in monthly installments?

This transaction is impermissible because it involves two types of Riba (usury/interest):

1. Riba an-Nasi'ah (interest due to delay): This is present by stipulating payment in another currency, as immediate possession is required for currency exchange, based on the Prophet's (peace and blessings be upon him) saying: "Silver for gold is Riba, except if it is hand-to-hand (immediately exchanged)." Paper currencies have the same rulings as gold and silver. 2. Riba al-Fadl (interest due to excess): This is present by stipulating an additional 16% on the loan. Any stipulated increase on a loan is considered Riba by scholarly consensus.