What is the ruling on buying dollars with a check and then selling them for cash immediately after the transfer?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
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.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/169770
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 169770
- 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