What is the shariah ruling concerning converting local currency to stronger international currencies on the black market?
Question
I am living in South Africa, where the US Dollar is approximately R12.00. The US dollar is considered as a strong currency and is accepted everywhere. However in South Africa, it is considered illegal to take out a foreign currency, accept with a VISA and ticket to a foreign destination. Assuming I want to perform Hajj in 2 years time. I do not know what the Riyal or Dollar will cost. Can I take out dollars on the black market and keep it until I have enough to go for Hajj? Barakallah Feek
Answer
Islamically, you may buy any currency at any price agreed upon between buyer
and seller.
And Allah Ta'ala Knows Best
CHECKED AND APPROVED CORRECT:
Mufti Ebrahim Desai
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