Are the 2% fees imposed on foreign currencies in the bank's prepaid cards considered usury (riba), given that the total amount (item + fees) remains less than its price locally?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
The bank acts as an agent for the client in prepaid cards, and it pays the purchase invoice from its own account. If the currencies differ, the bank converts the amount from the client's currency to the seller's currency, and it is permissible for the bank to take a known and fixed commission for this conversion.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/128513
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 128513
- Imported
- Translation status
- Source text, unreviewed
- Read the full ruling
- Read the full answer on Ftawy