How can one reconcile the site's fatwas, which stipulate the impermissibility of agreeing to record a debt in a currency other than the original currency of the debt, with the fatwa of Sheikh Abd al-Rahman ibn Nasser al-Barrak, which obliges the evaluation of the pound against the dollar on the day of lending when the currency depreciates, and what Sheikh al-Albani's words support, in order to preserve the creditor's right from repeated injustice to the value of the debt due to currency deterioration?
It is not permissible to link debts to their value from the outset in the contract. Rather, debts are repaid in kind with the currency in which they were taken. This is based on the decision of the Islamic Fiqh Academy, because linking to the value leads to uncertainty (gharar) and ambiguity. However, in the event of currency depreciation or disappearance, recourse is made to the value of the debt in the new currency at the time of the due date and the absence of the original currency, although there is a disagreement among scholars regarding when one should resort to value instead of the like. The fatwa adopted the opinion of the majority that the debt should be repaid in kind as long as the currency is in circulation, while urging consideration of the decrease in value at the time of repayment.
Summarized from the full answer at Ftawy · reviewed Sep 2, 2026
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