Borrowing money from an exchange company and keeping it there until the exchange rate goes up then exchanging it


Is it allowed for me to call an exchange company, I request him to loan me some money in the Saudi currency, then I call him to exchange it for me after the exchange rate rises, then it will be on my account, and I would have profited from this transaction?


There’s no problem that you borrow from him if you know that he works in the exchange and there isn’t any of those things haraam.

There’s no problem to borrow from him with taking it in hand or you appoint one who will take it by hand, then he will exchange it for you from him or from other than him with a higher price or cheaper.

Also if you borrowed from him and you took it by hand it becomes your possession, you can deal with it however you please, with him or other than him, as for if you exchanged it without taking it by hand from him, this becomes a non hand to hand exchange, it is lacking hand to hand exchange so it falls into an affair of interest, so stay away from this scenario and appoint one who will take it from him by hand then exchange it from him or other than him with a higher price or cheaper as you see fit.

Answered by: Shaykh, the Allamah, the Trustworthy Advisor, Abu Abdirrahman Yahya bin Ali Al-Hajuri – may Allah preserve him


Translated by: Abū ‘Abdillāh ‘Omar bin Yahya Al-‘Akaw