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The question

What is the legal ruling regarding opening an exchange shop that cashes post-dated checks for customers in exchange for a 1% commission, in order to avoid paying the 17% Israeli taxes, knowing that the exchange shop pays commissions to the bank when withdrawing cash? And what is the Sharia-compliant method for such a transaction?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

A check is a commercial paper of guaranteed value and a legitimate documentation of debt. When its value is paid by a third party, the same value must be repaid along with administrative expenses as a lump sum, not as a percentage of the check's value, to avoid usury (riba). This also applies to post-dated checks. It is permissible for check holders to cash them under the aforementioned condition when they are compelled to do so, and the sin lies with the exchange companies.

Summarized from the full answer at Ftawy · imported

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Where this answer came from
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Ftawy
Original fatwa ID
55432
Imported
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Source text, unreviewed
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